Why Occidental Petroleum Is Selling Shares of This 9.5%-Yielding Dividend Stock

Occidental Petroleum is cashing in on its MLP. Occidental Petroleum (OXY -2.58%) recently closed its needle-moving acquisition of CrownRock. It paid $12 billion for the fellow oil company, which will significantly enhance its position in the prolific Permian Basin. The acquisition should also boost its annual free cash flow by about$1 billion. However, the oil stock took on a boatload of debt to close the deal (it issued $9.1 billion of new debt while also assuming$1.2 billion of CrownRock's existing debt ...