Is Occidental Petroleum Stock a Buy After Its $9.7 Billion Deal With Warren Buffett-Led Berkshire Hathaway?

Occidental Petroleum (NYSE: OXY), commonly known as Oxy, fell 7.3% on Oct. 2 in response to news that it is selling its petrochemical division, OxyChem, to Warren Buffett-led Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) for $9.7 billion. Here's why the deal is better for Berkshire than Oxy, and if the energy stock is worth buying on the dip.Image source: Getty Images.Oxy is mainly an exploration and production (E&P) company operating in the upstream segment of the oil and gas value chain. But unlike some pure-play E&Ps, Oxy also had a massive downstream division called OxyChem, which makes chemicals for several industries -- from construction to water treatment, healthcare, and consumer goods. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool