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.
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.