Occidental Petroleum Corporation (OXY) remains a significant focal point for investors, with 53% of shares controlled by institutional ownership. Its performance in 2024 was flat, however, the continuous investment by Warren Buffett continues to inspire interest. Occasional underperforms compared to competitors seem balanced by periods of outperformance. Notably, despite some institutions like Wedmont Private Capital and Cwm LLC trimming their positions, Berkshire Hathaway repeatedly bolstered its stake in Occidental, pushing it up to nearly 29% of shares. Recognising Occidental's intrinsic value, Buffett has been investing in the company for nine straight days. Despite some bearish forecasts, Occidental's strong financials have been driving a recent rally, with a notable uptrend in stock performance. The energy company's Q1 2024 earnings call saw the company surpassing market returns, even though some investors think the petroleum firm might offer 'minimal shareholder return'. Despite this, the company remains seemingly undervalued by 24% according to estimates. Interestingly, a 3.0% return this week brings its three-year gains for shareholders to 129%.
Occidental Petroleum Corporation OXY News Analytics from Sat, 13 Jan 2024 08:00:00 GMT to Sun, 23 Jun 2024 14:30:48 GMT -
Rating 7
- Innovation 3
- Information 9
- Rumor -5
