Occidental Petroleum price target lowered to $77 from $80 at Truist

Truist lowered the firm’s price target on Occidental Petroleum to $77 from $80 but keeps a Buy rating on the shares after its Q4 results. The company has a number of drivers that will push results higher with even more significant upside beginning later this year when the CrownRock acquisition closes, the analyst tells investors in a research note. Truist adds that it is forecasting continued unconventional upside in the Permian and DJ despite slightly less spend along with additional upside in the Permian EOR, GOM, and OxyChem as more capital is allocated to the plays.