Source: OXY
Investment Thesis
The Houston-based Occidental Petroleum (OXY) was considered as a safe long-term domestic oil play until not so long ago. The company was commonly praised as one stable and secure investment by the market.
A so-called "dividend aristocrat" that should be held in any savvy investors' portfolio. A year has passed since Anadarko's saga, and this stability is now long gone and replaced by gloom.
The dividend has been recently cut by 86% on March 7, 2020, and said that it would be cutting its 2020 capital spending to between $3.5 billion