Is Occidental Petroleum the Best Dividend Stock for You?
Choosing investments for your portfolio will require you to make concessions. Consider Occidental Petroleum (NYSE: OXY), which has grown its quarterly dividend from $0.01 a share in the first quarter of 2021 to $0.22 per share in the third stanza of 2024.
That sounds great if you are a dividend investor, but there's some history here that suggests Chevron (NYSE: CVX) might be a better choice for most income investors.
The key part of the story missing from the dividend discussion is that Oxy, as Occidental Petroleum is more commonly called on Wall Street, cut its dividend in 2020. It was a rather large cut, too, taking the quarterly payment from $0.79 per share down to just a penny. To be fair, 2020 was a very difficult year for the energy sector thanks to the economic shutdowns used in an attempt to slow the spread of the coronavirus pandemic.
Source Fool.com
Occidental Petroleum Corp. Stock
The stock is one of the favorites of our community with 29 Buy predictions and 2 Sell predictions.
As a result the target price of 66 € shows a slightly positive potential of 15.81% compared to the current price of 56.99 € for Occidental Petroleum Corp..
