Berkshire Hathaway has acquired an additional 2.57 million shares in
Occidental Petroleum, further expanding their invested holdings. Occidental has seen steady returns and has become a favorite among institutional investors, commanding a 53% institutional ownership. In partnership with Berkshire Hathaway,
Occidental has formed a joint venture for lithium extraction, a strategic move in the renewable energy market. Despite some underperformance compared to competitors and bearish analyst forecasts, the company is attracting investor attention. Recent financials indicate a strong balance sheet, and the company has a robust start with positive cash flow in its Q1 2024 report.
Warren Buffet's Berkshire Hathaway has shown confidence through further investments with an increased stake in the company. Occidental has also been focused on cost-cutting measures that could lead to higher profits in the future. Finally,
Occidental is exploring a $20 billion sale of its Western Midstream, part of a broader strategy to streamline its operations and focus on its core businesses.
Occidental Petroleum Corporation OXY News Analytics from Mon, 11 Dec 2023 08:00:00 GMT to Sun, 09 Jun 2024 13:51:35 GMT -
Rating 5
- Innovation -3
- Information 8
- Rumor -1
