Occidental initiated with a Hold at Truist

Truist initiated coverage of Occidental (OXY) with a Hold rating and $65 price target The company stands out as one of the largest diversified E&Ps with an attractive and balanced portfolio comprised of high-quality shale assets and low-decline conventional yielding about 16BBoe of resource potential, though limited upside relative to the firm’s price target keeps Truist at neutral, the analyst tells investors in a research note.