Is This 8.5%-Yielding Oil and Natural Gas Stock a Buy?
This year, Occidental Petroleum (NYSE: OXY) has been hogging the spotlight for all the wrong reasons. The energy stock has blasted through the floor of a 10-year low and continued to tumble. Can the oil-and-gas company's rich portfolio of shale assets save the day, or is this stock headed lower?
Occidental Petroleum is one of the largest U.S. oil and gas exploration and production businesses. It specializes in newer techniques such as horizontal drilling and hydraulic fracturing in tight shale formations. In addition to being the No. 1 producer in the Permian Basin -- the nation's most prolific shale play -- it's also the top producer in Colorado's Denver-Julesburg Basin, and the Uinta Basin in Northeast Utah.
That may all sound good in principle, but bigger doesn't always mean better, especially when that size comes with a hefty price tag.
Source Fool.com
