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
Date | Firm | Action | From | To |
---|---|---|---|---|
Jan 2021 | Mizuho | Upgrades | Neutral | Buy |
Dec 2020 | Wells Fargo | Upgrades | Underweight | Equal-Weight |
Dec 2020 | Morgan Stanley | Maintains | Equal-Weight |
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