Prediction: This Will Be Occidental Petroleum's Next Big Move
Occidental Petroleum (NYSE: OXY) is no stranger to making big moves. It agreed to buy CrownRock for $12 billion last year. Meanwhile, it outbid Chevron to buy Anadarko Petroleum for $55 billion in 2019.
Like the Anadarko deal before it, Occidental is using a lot of debt to fund its CrownRock purchase. That will likely lead to another big move by the oil giant. I predict it will sell its stake in master limited partnership (MLP) Western Midstream (NYSE: WES). Here's why a sale would make sense, and who might buy its interest in the midstream company.
Occidental Petroleum has been among the many participants in a wave of mergers sweeping across the oil sector over the past year. Exxon kicked off the current wave with its roughly $60 billion deal for Pioneer Natural Resources in early October. Chevron quickly followed that up by agreeing to buy Hess for $53 billion a few weeks later. Occidental followed those leaders with its agreement to buy CrownRock for $12 billion in December.
Source Fool.com
Occidental Petroleum Corp. Aktie
Die Occidental Petroleum Corp. Aktie verzeichnet mehrere Buy-Einschätzungen, was auf eine positive Tendenz hindeutet.
Das von der Community festgelegte Kursziel für Occidental Petroleum Corp. von 70 € impliziert eine deutliche Steigerung gegenüber dem aktuellen Kurs von 55.77 €.
