Mizuho raised the firm’s price target on Occidental Petroleum to $70 from $69 and keeps a Neutral rating on the shares ahead of the Q1 report. The analyst sees a 15% EBITDA miss for Occidental given its gassier production mix. Delayed Gulf of Mexico volumes are an overhang on Q1 earnings, but an improved oil price outlook helps the company’s leverage profile, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OXY:
- Barclays starts U.S. Integrated Oil & E&P sector with Positive view
- Occidental Petroleum initiated with an Equal Weight at Barclays
- Occidental Petroleum initiated with a Hold at HSBC
- Occidental Petroleum price target raised to $84 from $77 at Truist
- Occidental to Announce First Quarter Results Tuesday, May 7, 2024; Hold Conference Call Wednesday, May 8, 2024
