HSBC analyst Samantha Hoh initiated coverage of Occidental Petroleum with a Hold rating and $65 price target. The firm’s base case assumes the CrownRock transaction closes by year-end and contributes to 2025 production and cash flows, with Oxy completing its divestiture program and achieving its debt reduction target in 2026 to potentially resume share repurchases. Deleveraging and the acquisition take precedence over resuming share repurchases, the analyst tells investors in a research note.
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