Market Overview

UPDATE: Credit Suisse Reiterates Outperform Rating, Lowers PT on Occidental Petroleum

Related OXY
12 Stocks To Watch For February 14, 2018
10 Stocks To Watch For February 13, 2018

In a report published Friday, Credit Suisse reiterated its Outperform rating on Occidental Petroleum (NYSE: OXY), but lowered its price target from $114.00 to $110.00.

Credit Suisse noted, “As hoped, OXY laid out a path to reduce capex and improve returns. The price will be lower growth, but we think the market will prefer the free cash-flow generation, focus on costs and potential for a higher shareholder payout. Our EPS actually rise even on lower growth due to the aspiration to cut opex towards 2011 levels, but we cut NAV to $110/sh due to lower rig counts.”

Occidental Petroleum closed on Thursday at $82.52.

Latest Ratings for OXY

Mar 2018UBSInitiates Coverage OnNeutral
Feb 2018JP MorganMaintainsNeutralNeutral
Jan 2018Morgan StanleyMaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for OXY
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings


Related Articles (OXY)

View Comments and Join the Discussion!