Goldman Sachs downgrades Occidental Petroleum to Sell, citing focus on balance sheet improvements over capital returns.

Goldman Sachs' new sell rating and lowered price target reflect a cautious outlook on Occidental Petroleum (NYSE:OXY)'s ability to deliver shareholder value in a stable oil price environment, where return of capital is increasingly important for investor consideration.

Goldman Sachs analyst Neil Mehta downgraded Occidental Petroleum (OXY – Research Report) to a Sell today and set a price target of $45.00. The