Occidental Petroleum Corp. (NYSE: OXY) is rewarding its shareholders once again with a quarterly dividend of $0.22, payable on Wednesday, Jan.
Here's a look at the stocks Berkshire Hathaway bought during the recent market selloff.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
Occidental Petroleum (OXY 2.69%) is gaining interest from investors because of purchases by Warren Buffett.
Warren Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum to more than 28% in December. The energy firm company is focused on deleveraging its balance sheet and also maintains high free cash flow profitability. Occidental Petroleum's valuation is attractive, with a forward P/E ratio of 12.5X, offering up to 20% upside potential based on FY 2026 earnings estimates.
Warren Buffett is buying this stock hand over fist for his Berkshire Hathaway portfolio.
U.S. shale producer Occidental Petroleum said the prices received for oil production during the fourth quarter were lower than the preceding three months, as global demand for the commodity weakened.
Warren Buffett has been buying Occidental Petroleum shares for years. He reportedly has a $53 average cost. Earlier this year, investors had been wondering why Buffett wasn't adding at the recent lows after buying near $60. In December, he silenced that discourse by resuming his buys. Occidental Petroleum earns an 'A' on profitability in Seeking Alpha Quant due to its high margins.
Occidental Petroleum (OXY) concluded the recent trading session at $51.19, signifying a -0.7% move from its prior day's close.
It's no secret that Warren Buffett isn't finding many stocks he likes enough to buy these days. The legendary investor has been a net seller of stocks for eight consecutive quarters, a streak dating back to late 2022.
Warren Buffett, the ‘Oracle of Omaha', is one of the most famous investors of all time. The reputation is well-deserved — Buffet and his business, Berkshire Hathaway (NYSE: BRK.A) have managed to outperform the market on a consistent basis.
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) ended last year with a buying spree of the then-underperforming Occidental Petroleum (NYSE: OXY), characterized by the stock consistently trading below the $50 mark.