- The author explains why he has bought more shares of Enterprise Products Partners, a midstream energy company with a dividend yield above 7.6%, increased distribution for 24 consecutive years, and a solid business model of transporting fossil fuels through its pipelines, despite partnering with Occidental Petroleum on carbon capture and transportation solution which recently had a stock price decrease at -0.95%.
- Warren Buffett's Berkshire Hathaway has continued buying shares of Occidental Petroleum, adding another 7.9 million shares, however, the reason for the recent decline in the stock price could be due to falling crude prices and concerns of an economic downturn potentially hurting oil demand.
- Warren Buffett's investment conglomerate, Berkshire Hathaway, has a 13.9% weighting on the energy sector, with just two stocks - Chevron and Occidental Petroleum - in its holdings, and while the catalyst behind the energy stocks is the expectation that the price of commodities will remain elevated, Occidental Petroleum's mixed results likely caused the 0.95% drop in the company's stock last night.
- Berkshire Hathaway, owned by Warren Buffett, increased its stake in Occidental Petroleum Corporation to about 23.1%, following the purchase of 7.9 million shares for $466.68 million between March 13 and March 15, which caused Occidental Petroleum's stock to rise by 3.94%.
- Occidental Petroleum(OXY) stock went up by 3.94% after Warren Buffett added more of its shares to his Berkshire Hathaway portfolio despite concerns about the SVB Financial crash and low oil prices.
- The article explains that Occidental Petroleum's stock went up by 3.94% as Warren Buffett continued to add more OXY shares to his portfolio despite concern about SVB Financial crash and low U.S. oil prices.
- Berkshire Hathaway has bought another batch of shares in Occidental Petroleum, pushing its total stake to 23.1%, worth around $11.4bn, leading to speculation that it may be planning to take over the oil company, after previously receiving regulatory approval to buy up to 50% of it last year.
- Occidental Petroleum (OXY) stock went up by 3.94% as Warren Buffett continued to buy shares of the company and is predicted to be buying shares of his own company, Berkshire Hathaway, as well as Apple and Louisiana-Pacific in the first quarter of 2023 due to attractive valuations.
- Occidental Petroleum (OXY) stock went down by 5.63% on Wednesday along with other energy stocks, including Chevron (CVX) and Exxon Mobil (XOM), due to concerns about the SVB Financial crash which affected the oil market by sending down U.S. oil prices to their lowest level since late 2021, despite recent oil demand forecasts from OPEC and IEA offering some relief for prices.
- The article discusses three value stocks held by Warren Buffett's Berkshire Hathaway, including Occidental Petroleum (OXY), which saw a -5.63% drop in stock prices on May 18, and attributes this to the company being part of the energy sector, which was hit hard by the COVID-19 pandemic's impact on demand for oil and gas.
- Billionaire investor Carl Icahn suggests that the US economy has major problems relating to corporate leadership and inflation, and that the Fed will need to raise interest rates to avoid it from getting worse; Icahn adds that there is no corporate or political leadership in the country.
The article does not address why Occidental Petroleum (OXY) stock went down.
- Occidental Petroleum (OXY) stock was down by 5.63% last night due to the overall volatility in the crude oil market, which has been affected by various factors such as the Russian invasion of Ukraine, the global oil supply exceeding demand in H1 2023, and the shift towards renewable energy sources, among others.
- Abu Dhabi National Oil raised $2.5 billion from the initial public offering (IPO) of Adnoc Gas, the largest IPO in Abu Dhabi surpassing Occidental Petroleum Corp from the US, due to natural gas price increases last year amid Russia's invasion of Ukraine leading to record underlying earnings of $8.7bn with shares of Adnoc Gas scheduled to list on 13 March, with investors placing $124 billion of orders for a 5% stake due to demand for liquefied natural gas, which the UAE is investing billions of dollars in.
- Occidental Petroleum's stock (OXY) went up 1.63% as part of a positive trading session for the stock market, which included rising gains for competitors EOG Resources, Pioneer Natural Resources, and Devon Energy.
- Occidental Petroleum (OXY) stock went up last night as a result of its record profits in 2022 due to the historic fuel inflation that saw prices breach a record-breaking $5 per gallon in the summer, with Chevron reporting record profits of $36.5 billion for 2022, following Warren Buffet's decision to increase his stake in energy stocks which represented more than 10% of Berkshire’s holdings for the first time in Berkshire’s history.
- Occidental Petroleum (OXY) stock went up 1.63% last night, likely due to Warren Buffet's belief that crude oil prices will remain elevated, as he and his team have spent close to $30 billion on purchasing shares of Chevron and Occidental Petroleum.
- Occidental Petroleum (OXY) stock was up 1.63% after Abu Dhabi National Oil Co.'s successful IPO of Adnoc Gas, which raised $2.5 billion and was oversubscribed more than 50 times due to high demand for natural gas and LNG, continuing the trend of the Middle East emerging as a bright spot for share sales in 2022.
- Occidental Petroleum's stock went up due to its well-timed decision that Berkshire's savvy investment approach led to market-beating success, with a total return of roughly 119% in 2021.
- Occidental Petroleum (OXY) stock went up 0.94% last night, potentially due to insider transactions where many Occidental Petroleum insiders sold a substantial stake in the company over the last year, with the biggest insider sale being by the company's Independent Director, Avedick Poladian, for $1.1 million worth of shares, potentially implying that insiders considered a lower price to be reasonable.
- Occidental Petroleum (OXY) stock went up by 0.94% as part of an all-around favorable trading session for the stock market, with the S&P 500 Index and the Dow Jones Industrial Average on the rise.
- Occidental Petroleum (OXY) stock went up 0.94% due to Warren Buffett's stake and the company's attractive qualities such as an increased annual dividend of 38.5%, a low price-to-earnings ratio of 4.9, and a share repurchase program. Additionally, Occidental Petroleum stayed profitable throughout all four quarters of 2022, which is a notable achievement for an oil and gas producer.