Could Occidental Petroleum Become the Next ExxonMobil?
Occidental Petroleum (NYSE: OXY), which normally just goes by its ticker Oxy, is a big player in the energy sector. But when you compare it to the industry giants, well, it is still kind of small. However, it is working to expand its diversified portfolio. It looks like it wants to take on the big players, like ExxonMobil (NYSE: XOM). Is that realistic?
Occidental Petroleum is an integrated energy company. That means that it owns assets in the upstream (oil and natural gas production), midstream (pipelines), and downstream (chemicals and refining) segments. This is the same model used by some of the largest energy companies in the world, including U.S. energy giants ExxonMobil and Chevron (NYSE: CVX). Having this diversification across the sector helps to soften the ups and downs in what is a rather volatile industry.
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Source Fool.com
Occidental Petroleum Corp. Stock
Our community is currently high on Occidental Petroleum Corp. with 33 Buy predictions and 15 Sell predictions.
However, we have a potential of -1.39% for Occidental Petroleum Corp. as the target price of 51 € is below the current price of 51.72 €.
