Truist Securities Maintains Buy Rating for Occidental Petroleum: Here's What You Need To Know

Truist Securities has decided to maintain its Buy rating of Occidental Petroleum OXY and lower its price target from $80.00 to $78.00.

Shares of Occidental Petroleum are trading down 0.61% over the last 24 hours, at $56.71 per share.

A move to $78.00 would account for a 37.54% increase from the current share price.

About Occidental Petroleum

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.