Roth Capital raised the firm’s price target on Occidental (OXY) to $45 from $39 and keeps a Neutral rating on the shares following Q4 results. The firm noted that Occidental’s 2026 capital expenditures budget of $5.5B-$5.9B was 12% lower than its prior guide of $6.3B-$6.7B. Roth added that the company has a better midstream outlook and expects 3% production growth next year.
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