Goldman Sachs analyst Neil Mehta downgrades $Occidental Petroleum (OXY.US)$ to a hold rating, and adjusts the target price from $66 to $55.
According to TipRanks data, the analyst has a success rate of 60.2% and a total average return of 10.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Occidental Petroleum (OXY.US)$'s main analysts recently are as follows:
Following the completion of the CrownRock acquisition, it is anticipated that Occidental Petroleum's leverage may continue to be higher compared to its industry counterparts, especially considering the recent issuance of $9.7 billion in gross debt to facilitate the transaction.
The outlook on Occidental Petroleum acknowledges the potential for energy commodities and equities to face challenges due to fundamental issues and an anticipated imbalance by 2025. Despite this, it's suggested not to counteract the current easing measures by central banks and political entities, with expectations that crude oil market risks lean more towards positive outcomes. With the quarter's end approaching, there is an anticipation of updates that may indicate a decrease in near-term estimates.
Note:
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