Is Occidental Petroleum Still a Buy Now that WTI's Down to $70 a Barrel?

Occidental Petroleum (NYSE: OXY), the oil and gas giant more commonly known as Oxy, hit a 52-week high of $67.45 per share on March 31. That year-to-date gain of nearly 60% was largely driven by the Middle East conflict's impact on oil prices.But as of this writing, Oxy's stock trades at about $50. It pulled back as WTI crude oil prices retreated from a four-year high of $112.25 per barrel in mid-May to around $70. Let's see why Oxy's stock is tightly tethered to crude oil prices -- and if it's still worth buying today.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool