Barclays Adjusts Price Target on Occidental Petroleum to $59 From $55, Maintains Equalweight Rating

Barclays has increased its price target for Occidental Petroleum (OXY) to $59 from $55, while reiterating an Equalweight rating on the stock. This adjustment reflects Barclays’ updated outlook on the oil and gas company. Occidental Petroleum, a major player in hydrocarbon exploration and production, also has significant chemical manufacturing operations.