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 ...

Core Viewpoint - Warren Buffett continues to demonstrate confidence in Occidental Petroleum (OXY) by significantly increasing his stake through substantial insider trading activities, indicating a bullish outlook on the company's future performance [1][2][5]. Group 1: Insider Trading Activities - Berkshire Hathaway filed a substantial purchase of 250,583,605 OXY shares valued at $153.3 million, raising its stake in Occidental Petroleum to 28.26% of its portfolio [2]. - Recently, Buffett acquired an additional 1,750,308 shares worth approximately $105.5 million, with purchases occurring on June 10, 11, and 12 at an average price around $60 [9][10]. Group 2: Stock Performance and Analyst Predictions - As of June 13, Occidental Petroleum shares were trading at $60.28, reflecting a 0.51% drop for the day, a 1.11% increase over the past week, and a 4.41% decline over the month [3]. - Wall Street analysts have set an average price target of $72.15 for Occidental Petroleum over the next 12 months, with a high forecast of $90.00 and a low of $63.00, representing a potential 19.65% upside from the current price [5][6].

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 ...

Core Insights - Berkshire Hathaway has increased its stake in Occidental Petroleum, purchasing 2.6 million shares valued at approximately $153 million, bringing its total holdings to 250.6 million shares worth nearly $15 billion based on a closing price of $59.48 [2][3][8] Group 1: Investment Details - The recent purchase gives Berkshire Hathaway a 28% interest in Occidental Petroleum, with Warren Buffett expressing no intention to acquire or manage the company, but highlighting the value of its oil and gas holdings and carbon-capture initiatives [3][4] - The investment coincides with Occidental's announcement of a joint venture with Berkshire's energy unit to extract lithium, a key component for electric vehicle batteries [4] Group 2: Stock Performance - Occidental shares have been trading within a range since January of the previous year, with a recent decline below the 200-day moving average, indicating potential slowing selling momentum [5] - The stock has found support at $56 and resistance near $67.50, with a recent uptick of 1.2% to $59.96 prior to Monday's opening [7][11][12] - The stock's recent retracement of around 15% from its 2024 high may have presented an opportunity for Berkshire to increase its holdings [9]

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 ...

HOUSTON , June 04, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) and BHE Renewables, a wholly owned subsidiary of Berkshire Hathaway Energy, today announced they formed a joint venture for the demonstration and deployment of TerraLithium's Direct Lithium Extraction (DLE) and associated technologies to extract and commercially produce high-purity lithium compounds from geothermal brine. TerraLithium, a wholly owned subsidiary of Occidental, has patented DLE technologies that have the potential to process an ...

Warren Buffett may be known for his big positions in Apple and Coca-Cola, but the Oracle of Omaha only added to one existing position during the first quarter -- and it was an energy stock. As shown in the graph above, Occidental Petroleum reported revenue of $5.9 billion during the first quarter of 2024. This represented a 19% decline year over year. Furthermore, net income also dropped from $1.3 billion during the first quarter of 2023 to $888 million this year. Considering the noticeable volatility level ...