Susquehanna lowered the firm’s price target on Occidental Petroleum to $78 from $81 and keeps a Positive rating on the shares. The firm reduced natural gas price assumptions through 2026 while keeping crude oil prices flat. Its 2025 natural gas price is now $3.00 per mmbtu from $3.50, and 2026 price was lowered to $3.25 from $3.50. Gas pricing has remained weak in recent months and production will grow in 2025, driven from the return of temporary curtailments and additional pipeline capacity coming online, 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:
- Occidental Petroleum announces continued progress on debt reduction
- Occidental Announces Continued Progress on Debt Reduction and Divestiture Initiatives
- Occidental Petroleum price target lowered to $67 from $73 at Barclays
- Buffett’s Berkshire Adds ULTA Stake, Cuts Holdings in SNOW and AAPL
- Berskhire Hathaway buys Ulta, exits Snowflake in Q2