- Occidental continues to hold up well due to a strong balance sheet.
- The company still needs to work on improving cash flows to ensure the dividend can survive the current oil price slump.
- The stock has more downside risk with cash flows in the current negative position.
With the cutting of the dividend by ConocoPhillips (NYSE:COP), all of the major oil companies are under extra scrutiny now. Dividends that were previously unquestioned will now need cash flows to justify paying them going forward.
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