Occidental Tries to Be Like Devon and ConocoPhillips

By Tyler Crowe – Oct 25, 2013 at 8:03AM

NYSE: OXY

Occidental Petroleum

Market Cap

$60B

Today's Change

(0.58%) $0.39

Current Price

$67.39

Price as of April 23, 2024, 4:00 p.m. ET

Occidental Petroleum's recent moves are very reminiscent of decisions made by Devon Energy and ConocoPhillips.

If you can't beat 'em, join 'em.

This seems to be the strategy behind the recent moves made by Occidental Petroleum (OXY 0.58%) to unload some of its international assets as well as its holdings in Plains GP Holdings; because it looks very similar to the moves both Devon Energy (DVN 0.84%) and ConocoPhillips (COP 0.39%) have made in the past couple of years.

The reason that Devon and ConocoPhillips could successfully shift away from their international assets is because they both had plenty of development projects here in the U.S., but does Occidental have the ability to do the same? Tune into the video below where Fool.com contributor Tyler Crowe discusses whether Occidental can make it work and one lingering question that might make investors in Occidental scratch their heads.

Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter: @TMFDuffy and @TylerCroweFool, respectively.

The Motley Fool owns shares of Devon Energy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.