Should You Buy Occidental Petroleum While It's Below $50?

Shares of Occidental Petroleum (OXY 1.47%) have dipped over the past year. They've fallen from a peak of more than $60 a share to less than $50. That's largely due to a decline in oil prices, which have fallen from over $80 a barrel to their recent level just above $70 per barrel. the roll-off of the associated capital spending. Meanwhile, the company expects to capture about $450 million in additional earnings in its midstream business as legacy contracts roll off and it reduces capital spending in that se ...