Berkshire Hathaway Just Made a Huge Bet on Occidental Petroleum. Does That Make OXY Stock a Buy?
Occidental Petroleum (OXY) is losing ground on Thursday after famed investor Warren Buffett’s conglomerate Berkshire Hathaway (BRK.A) (BRK.B) confirmed plans of buying its petrochemical unit – OxyChem. Berkshire has agreed to pay $9.7 billion in cash for OxyChem, which makes it the giant’s largest deal since 2022. The transaction adds to Berkshire’s existing 28.2% stake in OXY shares. More News from Barchart Despite today’s decline, Occidental Petroleum stock remains up some 25% versus its year-to-dat ...