Mizuho Securities Starts Occidental Petroleum (OXY) at Buy
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Mizuho Securities initiates coverage on Occidental Petroleum (NYSE: OXY) with a Buy rating and a price target of $83.00.
Analyst Timothy Rezvan commented, "With a balance sheet stronger than most majors, a vast footprint across the premier U.S. oil shale basin, and a portfolio that could benefit from likely declining mega-project spending after 2016, Occidental looks to be a compelling lower beta oil play offering a strong yield (4.1%) and dividend visibility. Capital freed up from other projects in '17 and beyond can continue Permian Basin development, the likely driver of the company's future production growth."
Shares of Occidental Petroleum closed at $72.65 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Starts Mitek Systems (MITK) at Buy
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
- MKM Partners Raises Price Target on Ollie's Bargain Outlet (OLLI) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!