Notes from Truist Financial (Neal Dingman) - Aug 16

[dan_s]

Energy
Occidental Petroleum Corporation (OXY, $64.34, Buy) -
Setting Up For Ramping Shareholder Returns and Potential
Takeout - Occidental continues to maximize its diversified
portfolio resulting in ~$4B of quarterly FCF, that the company has
prudently used to materially pay down debt to $22B recently from
nearly $36B just a year ago. The much improved leverage has
allowed OXY to increase shareholder returns (base dividend and
buybacks) and could soon qualify the company for investment
grade status, which would likely provide notable benefits. - Neal
Dingmann

Energy - Exploration & Production - Weekly E&P Well Watch &
Comp Sheet - Please see the following pages for our weekly E&P
Sector Comparison. Companies included: APA (Buy), AR (Buy),
CDEV (Hold), CHRD (Buy), CIVI (Buy), CLR (Buy), CNX (Hold),
COP (Buy), CPE (Buy), CRK (Hold), CTRA (Buy), CVX (Hold),
DVN (Buy), EOG (Buy), EQT (Buy), ESTE (Buy), FANG (Buy),​
GPOR (Buy), MUR (Buy), MTDR (Buy), MGY (Buy), MRO (Buy),
NOG (Buy), OVV (Buy), OXY (Buy), PDCE (Buy), PXD (Hold),
REI (Hold), REPX (Buy), ROCC (Buy), RRC (Hold), SBOW (Buy),
SWN (Hold), VNOM (Buy), and XOM (Hold). - Neal Dingmann

MY TAKE: The Holds on CRK and RRC are because Neal is still using a natural gas price deck that is much lower than mine.