The typical advice in the financial market is to never blindly follow a whale investor like Warren Buffett. However, these investors' reverse-engineering investment decisions can often prove helpful. Today, Warren Buffett didn't buy more shares of Occidental Petroleum Co. NYSE: OXY because the economy is slowing but because a commodity supercycle could be about to push oil prices higher. Occidental Petroleum ▼ OXY +0.97 (+1.61%) $71.18 P/E Ratio 16.71 Add to Watchlist Get Berkshire Hathaway alerts: Buffett' ...

About this content Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, an ...

The Omaha, Nebraska-based conglomerate purchased Occidental shares every trading day from June 5 to Monday, totaling an additional 7.3 million shares with purchase prices slightly under or above $60, filings showed. 'Read every word' Warren Buffett's Berkshire Hathaway has scooped up more shares of Occidental Petroleum over each of the past nine trading sessions, driving his gigantic stake in the Houston-based oil and gas producer to almost 29%, according to regulatory filings. Berkshire also owns $10 billi ...

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). Occidental Petroleum Insider Trading Alert — Barchart (@Barchart) June 13, 2024 As a reminder, Buffett's company Berkshire Hathaway (NYSE: BRK.A) previously filed a substantial purchase of 250,583,605 OXY shares valued at $153.3 million, increasing ...

Occidental Petroleum Today Occidental Petroleum -0.31 (-0.51%) ▼ Dividend Yield 1.46% Price Target $70.94 However, monetizing what's in the rear-view mirror is often challenging, so investors can look elsewhere for opportunities within the energy sector. This time, earnings per share (EPS) growth prospects are of the essence if some are to beat the market this quarter, and that is where Chesapeake Energy Co. NASDAQ: CHK comes into play. First, here's why Buffett decided to boost his presence in oil. Options ...

But Oxy isn't done with its growth plans, either, noting that it just agreed to buy energy company CrownRock, though it is a smaller transaction than the one that ran into trouble back in 2020. Still, Oxy looks like its longterm ambition is to compete with industry giants like Chevron, and it can really only get there via acquisition. Chevron, meanwhile, is already an industry giant. And as noted, it has a very strong balance sheet. When oil prices plunged during the pandemic, it added leverage so it could ...

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental (Oxy), an international energy company with assets primarily in the United States, the Middle East and North Africa. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Oxy's business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit Carbon Innovation on oxy.com ...

Key Takeaways 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. The purchases, valued at roughly $153 million, give Berkshire 28% interest in the energy producer, through Buffett wrote in the 2023 shareholder letter that the investment firm has no interest in acquiring or managing the company. Rather, he pointed ...

Core Insights - Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum (OXY) to 28.26% through recent stock purchases totaling 250,583,605 shares valued at $153.3 million [1][2][4] - The latest transactions occurred on June 5, 6, and 7, 2024, with shares acquired at prices ranging from $59.6687 to $59.9342 [2][4] - OXY stock has shown resilience in 2024 despite a modest decline of 0.95% year-to-date, indicating potential buying opportunities for investors [3][6] Company Developments - Occidental Petroleum announced a joint venture with Berkshire Hathaway's energy unit to extract lithium, which is essential for electric vehicle batteries and energy storage [8] - The project aims to utilize Occidental's direct lithium extraction technology at Berkshire's geothermal facility in California, highlighting the company's commitment to environmentally safe practices [8] - This collaboration reflects a broader trend among oil majors investing in electrification as governments push for reduced fossil fuel consumption [8]

It has been about a month since the last earnings report for Occidental Petroleum (OXY) . Shares have lost about 6% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Occidental due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Occidental Petroleum Q1 Earnings Surpa ...