Analysts have been eager to weigh in on the Materials sector with new ratings on Marathon Petro (NYSE: MPC), Occidental Petroleum (NYSE: OXY) and Concho Resources (NYSE: CXO).
Marathon Petro (NYSE: MPC)
Jefferies analyst Christopher Sighinolfi reiterated a Buy rating on Marathon Petro (NYSE: MPC) today and set a price target of $61. The company’s shares opened today at $52.48, close to its 52-week high of $54.59.
According to TipRanks.com, Sighinolfi is a 5-star analyst with an average return of 10.6% and a 65.4% success rate. Sighinolfi covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and National Fuel Gas Company.
Marathon Petro has an analyst consensus of Strong Buy, with a price target consensus of $63.20.
Occidental Petroleum (NYSE: OXY)
In a report released today, Jason Gammel from Jefferies reiterated a Hold rating on Occidental Petroleum (NYSE: OXY), with a price target of $64. The company’s shares opened today at $60.53, close to its 52-week low of $57.20.
According to TipRanks.com, Gammel is a 4-star analyst with an average return of 5.9% and a 63.4% success rate. Gammel covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Amec Foster Wheeler plc.
Currently, the analyst consensus on Occidental Petroleum is Moderate Buy and the average price target is $67.50, representing an 11.5% upside.
In a report issued on May 10, J.P. Morgan also upgraded the stock to Hold.
Concho Resources (NYSE: CXO)
Jefferies analyst Michael Hsu reiterated a Hold rating on Concho Resources (NYSE: CXO) today and set a price target of $140. The company’s shares opened today at $133.08.
According to TipRanks.com, Hsu is a 1-star analyst with an average return of -4.5% and a 31.6% success rate. Hsu covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Continental Resources, and Gulfport Energy Corp.
Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $163.80.
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