Raymond James Reiterates Outperform Rating on Occidental Petroleum (OXY)

Raymond James analyst John Freeman reiterated an Outperform rating and $51.00 price target on Occidental Petroleum (NYSE: OXY)

The analyst comments "Significant Progress on Debt Reduction: Since 3Q24, OXY has repaid $6.8B in debt, reducing annual interest expense ~$370M. The company has reduced debt by $2.3B YTD, with debt repayments of $0.5B in 1Q25 and $1.8B in April supported by ~$1.3B in divestitures that closed in 1Q25. OXY has already retired all of its 2025 debt maturities, providing a clear runway to repay the ~$284M due over the next 14 months. In 2025, the company is prioritizing debt reduction and cash flow growth through reinvestment over share buybacks and preferred equity redemptions."

For an analyst ratings summary and ratings history on Occidental Petroleum click here. For more ratings news on Occidental Petroleum click here.

Shares of Occidental Petroleum closed at $39.01 yesterday.

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