BMO Capital analyst Phillip Jungwirth maintains $Occidental Petroleum (OXY.US)$ with a hold rating, and adjusts the target price from $61 to $65.
According to TipRanks data, the analyst has a success rate of 41.3% and a total average return of 2.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Occidental Petroleum (OXY.US)$'s main analysts recently are as follows:
Estimates within the integrated oil and exploration and production group have been modified to mirror a reduction in future oil price forecasts. Despite the recent sector pullback, the potential risks and rewards appear to be favorably inclined for stocks, given that company fundamentals and operational momentum are robust.
The assessment indicates that Occidental Petroleum's leverage is anticipated to stay high compared to its peers over the medium to longer term, due to the company's recent issue of substantial gross debt linked to the completed CrownRock acquisition.
In a comprehensive analysis of the Energy sector, revisions to the North American Oil and Gas group, U.S. refiners, and Canadian oilfield services companies were made, following the notable drop in crude prices in September. It is anticipated that crude prices will stabilize around the present figures for the remainder of the year.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.