Is OXY stock a buy or sell?
What is the future for OXY stock?
Occidental Petroleum enjoyed one of the sharpest stock recoveries on record. In recent years. Furthermore, the mammoth oil company watched. As their $100 stock fall to $9 per share, only to recover to nearly $70, today.
But for the many holders of the stock, they wonder. Has it become too expensive?
At $2 of quarterly earnings at $95 oil per barrel. Oxy still trades at just 8.5x. However, what if oil drops back to $70 or $80 per barrel?
More drills will enter the market. Thus, pumps turned to the max. As a result, supply and demand will change.
From Texas to Saudi Arabia. Drillers desperately order tools for more rigs. In addition, EV usage soars every quarter. China mandates a migration from fossil vehicles.
So is Oxy stock a buy or sell based on oil prices? Sadly, boils down to that. Moreover, it appears.
Yes, their CEO shines. Yes, their assets are tier 1. Lastly, will that matter? Beyond the margins. We don’t want alpha on the XLE. We want an up stock. Irregardless of one commodity.