Occidental Petroleum is embracing the green revolution for future profitability. Berkshire Hathaway has partnered with Occidental for lithium production. Occidental is focusing on growth projects and potential acquisitions for long-term success.
24/7 Insights Warren Buffett has purchased more of his favorite energy stock.
Occidental Petroleum (OXY) reachead $59.80 at the closing of the latest trading day, reflecting a -0.83% change compared to its last close.
Warren Buffett's Berkshire Hathaway (NYSE: BRK-A , NYSE: BRK-B ) first bought shares of Occidental Petroleum (NYSE: OXY ) during the third quarter of 2019 before completely selling out in Q2 2020. However, the “Oracle of Omaha” had a change of heart, as he bought back a position in the energy company during Q1 2022.
As the stock trades of Warren Buffett have become the stuff of legend, the Oracle of Omaha does not shy away from insider trades, buying up massive amounts of stock in companies where he already has a substantial stake, including Occidental Petroleum (NYSE: OXY).
Options traders are known as either the smartest of the bunch out there or the most willing to take on increased risks. When someone buys an option – particularly a call option – that person is betting on the direction of a particular stock and the timing upon which that stock will reach a specific price.
Occidental Petroleum has materially improved its balance sheet in recent years, allowing it to return to dividend growth. The company appears focused on expanding its business to better compete with larger integrated energy giants.
Elevated oil and gas prices helped industry operators pay down debt and solidify their balance sheets. ExxonMobil operates across the value chain and provides a reliable dividend that has grown for 41 consecutive years.
Shares in Occidental Petroleum (OXY) are in focus Monday after a regulatory filing released late Friday revealed that Warren Buffett's Berkshire Hathaway (BRK.B) has added to its sizable stake in the oil and gas exploration and production company.
Warren Buffett, famously known as the Oracle of Omaha, has decided to strengthen his stake in Occidental Petroleum (NYSE: OXY) with a substantial purchase recently made by Berkshire Hathaway (NYSE: BRK.A).
Occidental (OXY) reported earnings 30 days ago. What's next for the stock?
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.