BMO Capital analyst Phillip Jungwirth maintains $Occidental Petroleum (OXY.US)$ with a hold rating, and adjusts the target price from $61 to $65.
According to TipRanks data, the analyst has a success rate of 42.8% and a total average return of 2.9% 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 within the integrated oil and exploration and production group have been adjusted to account for reduced oil price forecasts, with a decrease of $10 per barrel anticipated in 2025 and $5 in 2026. Despite the recent downturn in the sector, the potential for positive outcomes is inclined towards the upside, as company fundamentals and operational momentum are perceived to be strong.
The medium- to long-term leverage of Occidental Petroleum is expected to stay higher compared to its peers due to the company taking on $9.7 billion in gross debt following the completion of the CrownRock acquisition.
The firm is revising its estimates across the board within the North American Oil and Gas group, U.S. refiners, and Canadian oilfield services companies. This comes after a significant drop in crude prices during September, with the expectation that prices will hover around the current levels for the remainder of the year.
Note:
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