Goldman Sachs Sticks to its Guns: OXY Gets Another Boost from Mehta

Goldman Sachs has given its seal of approval to Occidental Petroleum (OXY) once again. Analyst Neil Mehta maintained his Buy rating on the energy company, citing its strong financials and recent earnings release. The company's shares closed at $55.32 yesterday.

Mehta covers the Energy sector, with a focus on stocks like Marathon Petroleum, Canadian Natural, and Conocophillips. His predictions have proven to be accurate, with an average return of 11.5% and a success rate of 60.16% on recommended stocks.

The analyst consensus on Occidental Petroleum is currently a Moderate Buy, with an average price target of $66.72. This comes after the company reported impressive quarterly revenue of $8.33 billion and net profit of $2.98 billion for the quarter ending June 30. These figures are significantly higher than last year's earnings release, which saw a revenue of $6.32 billion and net profit of $431 million.