Wells Fargo lowered the firm’s price target on Occidental Petroleum (OXY) to $42 from $49 and keeps an Equal Weight rating on the shares. The firm reduced the stock’s multiple to reflect the increased macro uncertainty amid tariff disputes and the recent decline in both near-term and forward-strip oil prices.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OXY:
- Exxon, Occidental projects at risk due to DOGE cuts, WSJ reports
- Occidental Petroleum price target lowered to $38 from $44 at UBS
- Occidental Petroleum price target lowered to $48 from $58 at Morgan Stanley
- Occidental Petroleum price target lowered to $58 from $60 at Stephens
- Nu, HPE, Merck, BMY, OXY: Trending by Analysts