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XOM - Occidentally Shot In The Foot (Except It Was On Purpose)
Exxon Mobil Corporation
Like Exxon (XOM), Cenovus (CVE), and EQT (EQT) before it, Occidental Petroleum (OXY) overpaid for energy resources in an age of energy abundance. In fact, the energy sector is littered with companies that have made this crucial mistake. And their shareholders all paid a heavy price. The question is: with all those examples before it, why did OXY CEO Vicki Hollub think her deal for Anadarko Petroleum (APC) would be any different?
Fact is, Occidental seems to have intentionally shot itself in the foot because it isn't