- To outbid Chevron for Anadarko CEO Hollub essentially bet the company which almost went bankrupt when the oil price collapsed; OXY recovered brilliantly as oil recovered.
- OXY may have overpaid, but if the price of oil holds up for a few years it will pay back debt, repurchase shares, and own Anadarko's shale assets for free.
- Operating cash flow now comes in at all time highs every quarter and may surprise positively for Q1; Wall Street analysts anticipate a 26% cash flow return.
- OXY has also made headlines for its climate-friendly initiatives.
- Having sold at the bottom, Buffett bought heavily as OXY rallied, while CEO Hollub made a large buy in March rather than using free cash to diversify her holdings.
For further details see:
Occidental Can Keep Rising: It Just Won A Huge Bet And May Be Cheaper At $60 Than It Was At $10