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Is It Too Late to Buy Occidental Petroleum Stock?

TheMotleyFool

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Is It Too Late to Buy Occidental Petroleum Stock?

Oil stocks are on fire in 2022, and Occidental Petroleum (NYSE: OXY) is no exception. The Houston-based driller's stock price has more than doubled in less than four months. After opening this year priced just under $30 per share, it now trades above $60 -- a gain of 111% year to date. So is it too late? Is there still money to be made in a stock that has risen by so much, so quickly?

In this case, perspective is critical. Sure, Occidental is on a tear right now, but a different picture emerges when you look at its share price over a longer time horizon.