Occidental Petroleum is a well-managed energy firm with significant production upside, strong free cash flow, and a recent acquisition boosting its Permian Basin output. The company is using excess cash flow for debt repayment, enhancing its balance sheet, and offering a 2% dividend yield, making it an attractive buy. Warren Buffett's 30% ownership and the accretive CrownRock acquisition should provide additional comfort. Investors today get a 15% discount on Buffett's June buys of OXY.
OXY has lost nearly 16% in a year, but investors can remain invested, given its strong Permian Basin and stable performance in the trailing 12 months.
Buffett is betting big on Occidental Petroleum. If you're bullish on oil prices, this company belongs in your portfolio.
Occidental Petroleum (OXY) closed at $52.40 in the latest trading session, marking a +0.31% move from the prior day.
Occidental Petroleum's recent stock dip makes it a compelling "Buy", especially given robust earnings and strong operational performance despite market turbulence. The CrownRock acquisition is expected to enhance Occidental's portfolio, boosting FCF and market position in shale with significant cost savings anticipated. I think OXY is currently undervalued based on next-year PEG and EV/EBITDA ratios, presenting an attractive investment opportunity.
Occidental Petroleum (OXY) reachead $52.24 at the closing of the latest trading day, reflecting a +1.16% change compared to its last close.
One of Buffett's favorite stocks over the last two years is now trading at the lowest price since Buffett started piling into the position. Despite the pullback in price, Buffett's not adding any more to his position, as the company faces some financial challenges.
Occidental Petroleum's latest acquisition should hugely improve its financials. That should allow the company to boost its dividends further.
Warren Buffett's Berkshire Hathaway owns 255 million shares in the oil and gas company. Declining oil prices have weighed on companies in the sector over the last year.
Buffett initiated two new positions for Berkshire Hathaway in Q2 and added to its stake in five other stocks. Value investors might find several of these stocks attractive.
Occidental Petroleum (OXY) closed at $52.06 in the latest trading session, marking a +1.5% move from the prior day.
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.