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UPDATE: Dahlman Rose Initiates Occidental Petroleum Corporation at Buy Following Share Underperformance

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Dahlman Rose initiated coverage on Occidental Petroleum Corporation (NYSE: OXY) with a Buy rating and an $86 price target.

Dahlman Rose commented, "Following recent underperformance, we believe the risk/reward is attractive. As cost cutting initiatives add to the bottom line by mid-2013 along with improving output, we expect EPS to benefit in 2014, boosted further by the startup of the Al Hosn project. We see rising cash distributions."

Occidental Petroleum Corporation closed at $75.35 on Monday.

Latest Ratings for OXY

DateFirmActionFromTo
Sep 2016JP MorganDowngradesNeutralUnderweight
Aug 2016Deutsche BankDowngradesBuyHold
Aug 2016UBSMaintainsNeutral

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Posted-In: Dahlman RoseAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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