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Fly News Breaks for September 23, 2019
OXY, APC
Sep 23, 2019 | 07:08 EDT
SunTrust analyst Neal Dingmann initiated Occidental Petroleum with a Hold rating and a price target of $48. The analyst notes that in the wake of its Anadarko acquisition, the company needs to execute some "key external transactions" to reduce its leverage toward that of its peer group. Dingmann adds that Occidental Petroleum's growth will likely track below that of its peers in the coming quarters to ensure that the company can generate free cash flows and return capital to shareholders.
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