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Occidental Petroleum Is Way Oversold 0 comments
They recently increased their dividend to 54 cents a share, so they feel good enough about their business to pay their shareholders more. Their payout ratio is a measly 23%, and their dividend yield is 2.7%, so they could increase their dividend substantially if their board felt like it. Their net income is $6.7B last quarter and their debt is $5.8B, so the debt is very manageable. More likely they'll buy assets from Chesapeake than raise their dividend any time soon, and could easily issue debt in order to pick up assets from CHK.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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