Why Occidental Petroleum Stock Slumped 17% in 2024 but Could Rally in 2025

2024 was a bummer year for Occidental Petroleum (NYSE: OXY) -- the oil and gas stock lost 17.3% value in the year, according to data provided by S&P Global Market Intelligence. Occidental was, in fact, one of the worst-performing large-cap energy stocks of 2024, significantly lagging the S&P 500 index, which gained 23% in the year.Despite Warren Buffett's holding company, Berkshire Hathaway, consistently buying shares of Occidental Petroleum throughout 2024, investors remained on the sidelines as Occidental's debt rose while crude oil prices fell. Occidental Petroleum, however, delivered promising numbers last quarter and looks like a top oil stock to buy for 2025.Occidental stock took the biggest hit in the second half of 2024, which is also when the company made a big acquisition. Occidental acquired CrownRock for nearly $12 billion in August last year. While the purchase price included CrownRock's existing debt of $1.2 billion, Occidental funded the acquisition with almost $9 billion of new debt.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool