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Is Occidental Petroleum Stock a Buy Now?
The one factor that investors need to understand about the energy sector is that it is volatile. Oil and natural gas prices can, and do, move dramatically and quickly at times. Right now, oil prices are a little soft, and Occidental Petroleum's (NYSE: OXY) shares are down around 35% from their 52-week highs. Is this a buying opportunity, or a sign that Occidental Petroleum isn't the best oil stock for your portfolio?Occidental Petroleum, or Oxy for short, is a $40 billion market cap integrated energy company. Both of those facts are important. Although $40 billion is a big number, it pales in comparison to industry leaders like ExxonMobil and Chevron, which have market caps of $440 billion and $235 billion, respectively.Image source: Getty Images.Continue reading
The one factor that investors need to understand about the energy sector is that it is volatile. Oil and natural gas prices can, and do, move dramatically and quickly at times. Right now, oil prices are a little soft, and Occidental Petroleum's (NYSE: OXY) shares are down around 35% from their 52-week highs. Is this a buying opportunity, or a sign that Occidental Petroleum isn't the best oil stock for your portfolio?
Occidental Petroleum, or Oxy for short, is a $40 billion market cap integrated energy company. Both of those facts are important. Although $40 billion is a big number, it pales in comparison to industry leaders like ExxonMobil and Chevron, which have market caps of $440 billion and $235 billion, respectively.
Image source: Getty Images.
