Occidental Petroleum (OXY) Continues to Cut Debt: Hold or Fold?

Occidental Petroleum (OXY) recently announced that it has reduced its principal debt by $3 billion in the third quarter of 2024, utilizing robust organic cash flow from operations and proceeds from divestitures. Occidental is on course to achieve its$4.5 billion debt reduction target, set to be completed within 12 months of closing CrownRock L.P. The company completed the acquisition of CrownRock on Aug 1, 2024. Over the past three months, Occidental has experienced a 7.3% fall, underperforming the industr ...