Occidental Petroleum (OXY) is one of those companies that's difficult not to like. It's Q2 earnings are up an impressive 56% thanks in no small part to the high price of oil (lately in the high $70s).
I would be more than happy to open a long position in OXY at a price significantly less than $80/share, where it's been hanging for some time. It's priced a bit too high for superior long term returns, but it has healthy fundamentals. The last 12 month's ROE of just under 13% is pretty close to its ten-year norm. This one stays on my radar.
Full disclosure: No position in OXY.
I would be more than happy to open a long position in OXY at a price significantly less than $80/share, where it's been hanging for some time. It's priced a bit too high for superior long term returns, but it has healthy fundamentals. The last 12 month's ROE of just under 13% is pretty close to its ten-year norm. This one stays on my radar.
Full disclosure: No position in OXY.
