I’m very new to the game and I took a look at OXY today. To me it looks like the dip in stock price and their earnings are not really their fault because oil sold for less money per barrel (at least that’s what I understood from reading many articles and looking at their financials). They increased oil production but somehow ended up with less revenue. Unlucky?
They were making a good progress in 2022, and are going downhill right now. Cashflow looked very promising in 2022. Also, I saw that Buffet bought a lot of shares of this one recently as well. He wouldn’t do that for no reason right? I’m just waiting to see how things pan out. I’m considering buying but only after I do a bit more research about the company and petroleum industry in general.
I’m slowly learning to think and evaluate stocks and I’m not sure if my thought process is on the right track. I’m studying and want to learn more about how the market works, what affects each sector and all of that stuff as I spend time looking at different companies.
What do you guys think? Is this the right way to think about this stock and valuate it? Any advice moving forward? Any help is much appreciated.
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