No. of Recommendations: 3
thank god
"“Investors may be ready for CEO succession at Occidental. Hollub, 66, oversaw a period of change at the U.S. energy company. That included the $55 billion purchase of Anadarko Petroleum in 2019 that substantially increased Occidental’s U.S. production, boosting its exposure in the desirable Permian basin region of Texas.
Occidental’s stock, however, has been one of the worst performers in the State Street Energy Select SPDR ETF (ticker XLE) since she became CEO in April 2016. Occidental shares are down 16% since then, third worst in the 23-stock index.
The XLE ETF has gained 270% since during that period with industry leaders Exxon Mobil and Chevron roughly doubling over that nearly 10-year span.
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