Market Overview

Sterne Agee Reiterates Buy on Occidental Petroleum Corporation on Updated 1Q13 Guidance


In a report published Friday, Sterne Agee analyst Tim Rezvan reiterated a Buy rating and $97.00 price target on Occidental Petroleum Corporation (NYSE: OXY).

In the report, Rezvan noted, “In an updated investor presentation at a competitor conference this week, Occidental provided a 1Q13 operations update in which it trimmed its international production outlook, driven by events in several regions. The update adversely impacts 1Q13 earnings, it does not materially change our long-term view on the stock. We trim estimates, but maintain our Buy rating and $97 PT, given our belief that the company's 3.3% dividend yield should provide a floor on shares in the low/mid $70's.”

Occidental Petroleum Corporation closed on Thursday at $78.36.

Latest Ratings for OXY

Jan 2021MizuhoUpgradesNeutralBuy
Dec 2020Wells FargoUpgradesUnderweightEqual-Weight
Dec 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for OXY
View the Latest Analyst Ratings


Related Articles (OXY)

View Comments and Join the Discussion!

Posted-In: Sterne AgeeAnalyst Color Reiteration Analyst Ratings

Latest Ratings

MSFTBMO CapitalMaintains270.0
STLAJefferiesInitiates Coverage On22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at