The advent of artificial intelligence (AI) is seen by many as one of the modern era's most incredible developments. And to be fair, it is a game changer.
Occidental Petroleum (OXY) concluded the recent trading session at $50.51, signifying a +1.41% move from its prior day's close.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
Warren Buffett is recognized as one of the greatest investors of our time.
The latest trading day saw Occidental Petroleum (OXY) settling at $48.56, representing a +0.75% change from its previous close.
Occidental's strong position in the Permian basin and free cash generation capabilities will allow it to strengthen its balance sheet and boost its performance.
Warren Buffett has made some rather bearish moves in Berkshire Hathaway's (BRK.A 0.80%) (BRK.B 0.95%) stock portfolio in the past few quarters. Most notably, the legendary investor disposed of significant portions of both the Apple and Bank of America investments that have performed extremely well for Berkshire.
Warren Buffett hasn't seen a lot to like in the stock market lately. Through the first three quarters of 2024, Berkshire Hathaway (BRK.A 0.80%) (BRK.B 0.95%) sold $133 billion worth of stock from the portfolio he manages for the conglomerate.
Warren Buffett's continued investment in Occidental Petroleum highlights a typical great investor's long-term strategy of buying bargains. Great investors like Buffett buy bargains and sell during favorable industry cycles. Many investors lack faith in their due diligence. They then worry that a future stock price drop indicates a mistake.
Just when it looks like Warren Buffett is done adding a position in a particular company, you learn he isn't. Last week, Berkshire Hathaway (BRK.A -0.07%) (BRK.B 0.25%) expanded an already-massive Occidental Petroleum (OXY 1.51%) holding that hadn't been touched in months, capitalizing on the stock's 35% pullback from April's peak that more or less aligns with crude oil's price action for the same time frame.
Occidental (OXY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Warren Buffett's company, Berkshire Hathaway (BRK.A 1.37%) (BRK.B 0.86%), can't seem to get enough of Occidental Petroleum (OXY 3.90%). The conglomerate recently purchased another 8.9 million shares of the oil company for $405 million.