Better Buy: Occidental Petroleum or Devon Energy?
Occidental Petroleum (NYSE: OXY) and Devon Energy (NYSE: DVN) have been two of the best-performing energy stocks this year. Shares of Occidental Petroleum have more than doubled, while Devon's stock is up almost 50%; both have vastly outperformed the S&P 500 and other energy stocks.
These oil stocks could have further to run if oil prices remain elevated. Here's a closer look at which one looks like the better buy these days.
Occidental Petroleum reached a critical inflection point earlier this year. The oil giant completed its near-term debt reduction goal, enabling it to start returning more cash to shareholders. Occidental did that by boosting its dividend by a whopping 1,200% and authorizing a $3 billion share repurchase program.
Source Fool.com
