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Occidental Petroleum Could Offer ‘Minimal Shareholder Return’: Analyst

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Shares of Occidental Petroleum Corp (NYSE:OXY) have been in focus due to the delay in the CrownRock deal.

The Houston-based oil and gas company is likely to have “solid” production upside in the back half of the year, “driven by organic and external Permian activity as the company ramps activity, according to Truist Securities.

The Occidental Petroleum Analyst: Neal Dingmann downgraded the rating for Occidental Petroleum from Buy to Hold, while slashing its price target from $84 to $69.

The Occidental Petroleum Thesis: While the CrownRock acquisition, which is expected to close in the current quarter, does add quality inventory and production, it is likely to …

Full story available on Benzinga.com

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