Occidental Petroleum (OXY) a Good Investment in Oil & Gas

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the sign outside Occidental Petroleum office buildings in LA.

Occidental Petroleum (OXY) is a solid long-term choice, especially for an investor who wants to participate in the US Oil & Gas Shale segment, particularly in the Permian Basin.

Occidental Petroleum’s 3Q’18 total revenues and other were $6,176 million, up 49.6% from a year ago and up 33.2% sequentially. Excellent quarter which beat expectations.

Total output was 681K Boep/d in 3Q’18. The US operations accounted for a little less than 56.4% of the company’s total production. OXY’s Permian Resources production grew 62% year-on-year.

The stock is a hold, and I believe OXY may eventually weaken more due to the bearish trend that has plagued the oil sector. I recommend buying OXY at $66.5.

Occidental Petroleum is a US-based energy company, specializing mainly in crude oil, natural gas exploration, and production. However, the company’s business operations also include chemical, manufacturing, and marketing.

1 COMMENT

  1. Occidental Petroleum (OXY) is one of my top holdings in energy, think that it is managed well and has a good future in the market

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