Best Buy and Hold Commodity Stock – OxyPete (OXY)
Picked by: Richard Band, editor of Profitable Investing
Strategy: Low-risk retirement investing that beats the market
Occidental Petroleum (OXY), or OxyPete to many investors, is a superb large-cap energy company that is seeing big growth unmatched by other industry giants. OXY saw a 206% reserve-replacement ratio for 2009, and halved its operational costs. Those are tremendous moves for a company with a market capitalization of over $70 billion!
Occidental Petroleum earnings just came out on April 29, and nearly tripled its EPS from a year ago, up from $0.45 to $1.31. OXY earnings also showed revenues came in at $4.77 billion. Analysts had estimated EPS of $1.35 on revenue of $4.8 billion.
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