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APC - Occidental Petroleum: A Bargain Dividend Stock At Its 12-Year Low
Anadarko Petroleum Corporation
By Aristofanis Papadatos
Occidental Petroleum (OXY) recently prevailed in a bidding war over the acquisition of Anadarko Petroleum (APC). As this $38 billion transaction value of this acquisition is almost equal to the $40 billion market capitalization of Occidental, it is evident that this is a major acquisition for the company.
However, since Occidental prevailed in the bidding war, the stock has been severely punished by the market and is now trading at a 12-year low level. In turn, Occidental's dividend yield is approaching 6%, a decade-high yield for the stock.