Warren Buffett is sitting on the sidelines for the most part. Sure, the legendary investor has added a few stocks here and there in recent quarters.
Occidental (OXY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
The S&P 500 is at an all-time high. However, not all stocks in the widely followed index are setting records.
Occidental Petroleum (NYSE: OXY), part of Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) portfolio, has extended losses to levels not seen in over two years.
Zacks.com users have recently been watching Occidental (OXY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
OXY's strong presence in the Permian Basin and contribution from international assets are boosting its performance amid the adverse impact of fluctuating commodity prices.
After a few months of lackluster price action in the energy sector, most investors have shied away from some of the best names in the sector, especially those in the crude oil industry. Whether the news about the current oil demand makes sense or not, investors need to think of the energy space as one of the most under-owned market corners today.
Occidental Petroleum Has Achieved 90% of This Crucial Goal. Time to Buy the Oil Stock?
Zacks.com users have recently been watching Occidental (OXY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
$12.9 Billion of Warren Buffett's Portfolio Is Invested in 1 Stock That Could Soar 25%, According to Wall Street
Occidental's extensive Delaware basin acreage and cost-cutting potential position it for long-term growth. Occidental can replace reserves at a low cost and is able to leverage existing infrastructure investments. Recent financial performance is strong, but the near-term outlook is cautious due to oil price volatility.
Anyone watching the Occidental Petroleum NYSE: OXY market will know that Warren Buffett has driven the price action. Fundamental qualities aside, Berkshire Hathaway's NYSE: BRK.A stock purchases began in early 2022, coinciding with an updraft in share prices, and have supported the stock numerous times since.