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Occidental Petroleum Corporation Message Board

  • sollid_companiess_only sollid_companiess_only May 31, 2013 8:41 AM Flag

    OXY PPS Target Raised to $115

    Oppenheimer increased its price target on Occidental after meeting with the company's CEO. The CEO stated that the company could announce plans within three months to spin off its international operations and use the $20B estimated proceeds from selling a large stake in the new company to repurchase 25% of its shares outstanding, the firm reported. The company also believes that its California and Permian assets could be spun off into two separate companies, added the firm, which keeps an Outperform rating on the stock.

 
OXY
76.23-1.29(-1.66%)Apr 28 4:04 PMEDT