OXY Stock: $50 Price Target From Truist

By Amit Chowdhry ● Oct 19, 2021
  • The shares of Occidental Petroleum Corporation (NYSE: OXY) have received a price target of $50 by Truist. These are the details.

The shares of Occidental Petroleum Corporation (NYSE: OXY) have received a price target of $50 by Truist. And Truist analyst Neal Dingmann upgraded Occidental Petroleum to a “Buy” rating from a “Hold” rating while increasing the price target from $35.

Dingmann is predicting record-free cash flow for the company to continue along with asset monetizations that should yield below 2-times leverage by early next year. And 

Dingmann added that this should enable Occidental to start discussing plans to return its quarterly dividend to 2019-2020 levels along with the possibility of an additional variable dividend, and/or a stock repurchase program.

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