Is OXY Petroleum a good stock to buy?
Asked 4 years ago
I am aware that OXY is in a slump after the COVID outbreak, etc. But are investors buying or selling OXY stock? Will Occidental petroleum recover, or is it too big of a risk? Which would you say is the best petroleum stock to invest in?
Andrew Moran
Wednesday, October 13, 2021
Because crude oil prices have reignited a tremendous rally, energy stocks still have more room for growth, including Occidental Petroleum.
Considering the questionable state of its finances, including the -$5.95 earnings per share and the company selling off some of its assets, the stock has surged. It should be noted that its finances are likely to improve as long as it does not expand too quickly again. Plus, investors do not seem to be bearish since there is only about 3% float shorted.
Wall Street is mixed, with most analysts giving it a "Hold" rating.
If you are long on oil, Oxy Petroleum is worth investing in, despite its putrid quarterly dividend of $0.01 per share.
That said, the best petroleum stock is Suncor Energy (SE). This company maintains a tremendous balance sheet, it has diversified its energy portfolio, and the quarterly dividend is splendid.
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