Roth Capital reiterates a Neutral rating and $53 price target on Occidental Petroleum (OXY) after the company posted Q1 oil price and natural gas price realizations that were “better” than the firm expected. Roth anticipates a “slight positive” reaction for Occidental compared to peers. The firm cited the company’s more levered balance sheet vs. peers, its lower long-term production growth rate vs. peers, its spending on DAC carbon-capture projects and its plan to sell around $5B in assets, Roth told investors in a research note.
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