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 downgraded Occidental Petroleum (OXY) to Sell from Neutral with a price target of $45, down from $54. The firm believes that in a

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