If You'd Invested $10,000 in Occidental Petroleum Stock 3 Years Ago, Here's How Much You'd Have Today
Occidental Petroleum (NYSE: OXY) is one of the largest oil and gas producers in the U.S., but it's only in recent years that the stock has gained momentum. If you'd invested $10,000 in Occidental Petroleum three years ago, your investment would be worth around $22,500 as of this writing. In other words, the oil and gas stock has more than doubled investors' money in just three years.
There are specific reasons Occidental Petroleum stock zoomed in three years and could continue to rally even higher.
Occidental Petroleum was saddled with heavy debt after its massive 2019 acquisition of Anadarko Petroleum, when oil prices plunged to zero in 2020 at one point. The oil and gas giant slashed its dividend, and its stock crashed.
Source Fool.com