If You'd Invested $10,000 in Occidental Petroleum Stock 3 Years Ago, Here's How Much You'd Have Today

Core View - Occidental Petroleum (OXY) has generated significant returns in recent years, with a $10,000 investment three years ago now worth around$22,500, more than doubling in value [1] - The stock's rally is driven by a combination of factors including debt reduction, cash flow growth, dividend resumption, and strategic acquisitions, with potential for further growth [2][4][7] Company Performance - Occidental Petroleum faced challenges post its 2019 acquisition of Anadarko Petroleum, including heavy debt and a stock crash during the 2020 oil price plunge [3] - The company has aggressively repaid debt, consistently grown cash flows, resumed dividend growth in 2021, and raised dividends annually since, leading to a swift turnaround and stock price surge [4] Strategic Moves - Occidental Petroleum is set to acquire CrownRock in a $12 billion deal to expand its presence in the Permian Basin, with plans to further reduce debt and resume share repurchases post-acquisition [7] - The company is one of the most diversified energy firms in the US, with operations spanning upstream, midstream, chemicals, and low-carbon ventures, positioning it for growth [6] Investor Influence - Warren Buffett's Berkshire Hathaway has significantly increased its stake in Occidental Petroleum, reaching 28.2% as of March 31, 2024, making it one of Berkshire's largest holdings [5] - Buffett's backing has been a major factor in the stock's rally, alongside the company's strategic initiatives and diversified business model [6]