Occidental Petroleum: Buy, Sell, or Hold?
Occidental Petroleum (NYSE: OXY) has been a popular energy stock since Warren Buffett invested in it several years ago. Berkshire Hathaway holds over 265 million shares in the oil and gas company and has maintained its investment despite volatility in the stock over the past few years.
The company is paying down debt and could be well positioned as demand for energy grows over the coming decade. If you're a shareholder or considering opening a position in Occidental, here's what you should know to decide whether it's a buy, hold, or sell today.
One of the biggest criticisms of Occidental was its massive debt load following its 2019 acquisition of Anadarko. At the time, the company's debt load spiked to nearly $48 billion. This came around the same time as the COVID-19 oil crash. However, in the past 20 months, the company has aggressively paid down $13.9 billion in debt and improved its financial footing.
Source Fool.com
Occidental Petroleum Corp. Stock
Currently there is a rather positive sentiment for Occidental Petroleum Corp. with 25 Buy predictions and 15 Sell predictions.
On the other hand, the target price of 46 € is below the current price of 46.96 € for Occidental Petroleum Corp., so the potential is actually -2.04%.
