Stop buying Exxon Mobil, Occidental Petroleum stocks as oil prices should stagnate, analyst says
OXYOXY(OXY) Market Watch·2024-01-03 21:20

With oil and gas prices expected to be weighed down by fears of weakening demand as global economies slow, Mizuho analyst Nitin Kumar has downgraded the shares of a number of energy companies on Wednesday. Included in the ratings changes, Kumar cut his ratings on the stocks of Exxon Mobil Corp. XOM, +2.38% and Occidental Petroleum Corp. OXY, +0.57% to neutral from buy. He lowered is stock price targets for Exxon Mobil to 117from117 from 133 and for Occidental to 63from63 from 72. “Although OPEC+ continues to be supp ...