I've done it on an older Winchester buttstock with excellent results. I lightly sanded the stock being careful not to take the surface down below its proper interface with the mating steel parts. In my case, the wood was a little paler than I preferred, so I gave it a little bit of dark walnut stain, even though the wood itself is walnut, and let it dry. Afterwards, I used pure Teak-wood Oil, hand rubbed, dried overnight near the wood-stove and a repeat the next night. It's been a couple of years now and I might re-oil it this Winter, but it looks exactly like the fore-stock, which I have done nothing to as it had no real need of it. It looks right; it looks correct; this being a circa 1942 vintage model 94 that has seen considerable use. One of the reasons I chose Teak-wood oil is because it has good UV-resistance. It's not glossy, which I wouldn't want anyway. Think and choose carefully what you want to use for your finish. You can have the best water-resistant finish, but if it isn't UV resistant, the Sun will wreck it.