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:
Estimates for the integrated oil and exploration and production sector have been adjusted to account for reduced oil price forecasts, with a decrease anticipated in 2025 and a further reduction in 2026. Despite the recent decline in the sector, there appears to be a favorable risk/reward balance, as company fundamentals and operational momentum continue to be robust.
The expectation is that Occidental Petroleum's leverage may stay higher compared to its peers over the medium to longer term. This outlook follows the company's significant gross debt issuance, which was a consequence of the recently completed CrownRock acquisition.
Note:
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