Occidental Petroleum (NYSE:OXY) -4.2% in Friday's trading to its lowest in more than a month as Goldman Sachs downgrades to Sell from Neutral with a $45 price target, cut from $54, citing the company's paused focus on capital returns to shareholders until significant balance sheet improvements are realized.

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