Occidental Petroleum Is Looking to Cash in on This High-Yield Dividend Stock
OXY(OXY) The Motley Fool·2024-02-22 18:08
Occidental Petroleum (OXY 1.53%) is reportedly exploring a sale of its stake in Western Midstream Partners (WES -2.04%). The oil giant owns nearly half of the master limited partnership (MLP). A sale would enable it to quickly repay the debt it will incur by acquiring CrownRock.Here's a look at why Occidental wants to cash in on its stake in the high-yielding MLP (it currently yields 7.5%) and which companies might be interested in the midstream specialist.Seeking to make quick work of its funding planOccid ...