Key Insights:
Analysts’ average target price for Occidental Petroleum (NYSE: OXY) suggests significant upside potential. Scotiabank adjusts its rating on Occidental Petroleum due to leverage concerns post-Crown Rock acquisition. GuruFocus estimates reveal a substantial gap between current trading levels and the stock’s fair value.Scotiabank’s Revised Rating on Occidental Petroleum
In a recent analysis, Scotiabank adjusted its outlook on Occidental Petroleum (OXY, Financial), downgrading it from “sector outperform” to “sector perform.” The revision stems from concerns about the company’s leveraged position following its Crown Rock acquisition. Additionally, Scotiabank has lowered its price target, reflecting the challenges posed by current market dynamics and declining oil prices, which could impact Occidental’s financial performance.
Wall Street Analysts’ Forecast
When examining projections from 24 Wall Street analysts, the consensus one-year price target for Occidental Petroleum Corp (OXY, Financial) averages at $54.63. This target ranges with a high estimate of $68.00 and a low estimate of $40.00, indicating a potential upside of 45.02% from its current trading price of $37.67. For more detailed projections, visit the Occidental Petroleum Corp (OXY) Forecast page.
Brokerage Firms’ Consensus Recommendation
The consensus from 27 brokerage firms rates Occidental Petroleum Corp’s (OXY, Financial) average brokerage recommendation at 2.8, categorizing it as a “Hold.” The scale used by analysts ranges from 1 (Strong Buy) to 5 (Sell), suggesting a moderate view of the stock’s potential near-term performance.
GuruFocus GF Value Estimates
According to GuruFocus, the estimated GF Value for Occidental Petroleum Corp (OXY, Financial) in one year stands at $56.15. This suggests a potential upside of 49.06% from its current price of $37.67. The GF Value metric by GuruFocus represents the fair value estimation, derived from historical trading multiples, past business growth, and projected future performance. To explore further, visit the Occidental Petroleum Corp (OXY) Summary page.