Occidental Petroleum Stock Slides With Oil as Wolfe Research Lifts OXY Target and Hollub Exit Talk Builds
Occidental Petroleum shares were set to drop 7.8% in premarket trading Wednesday after oil prices fell on a U.S.-Iran ceasefire. Wolfe Research raised its price target on the stock to $70, but most analysts remain cautious. CEO Vicki Hollub is expected to retire later this year, with COO Rob Jackson seen as her likely successor. Oxy reports first-quarter results May 5.