BofA reinstated coverage of Occidental Petroleum with a Neutral rating and $57 price target Oxy is a diversified oil and gas exploration and production company with other segments including chemicals, midstream and low carbon ventures, the analyst tells investors in a research note. The firm says substantial cash return is unlikely until 2027 or later given the company’s debt from the CrownRock deal. It does not see enough 2025 catalyst to really change the free cash flow timing.
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