Occidental Petroleum is an international oil and gas exploration and production company that focuses on the development of hydrocarbon resources
With operations spanning various regions around the globe, Occidental engages in the extraction of oil and natural gas, and is also involved in the chemical manufacturing sector, producing products used in a variety of industries. The company emphasizes sustainable practices and innovation in its operations, aiming to enhance environmental stewardship while delivering energy solutions to meet global demands.
Despite Buffett overseeing stakes in nearly four-dozen securities, the lion's share of Berkshire's invested assets have been put to work in seven top ideas.
Warren Buffett's Berkshire Hathaway Inc. has significantly increased its stake in Occidental Petroleum Corp. through five purchases last week, seemingly diverging from the legendary investor's long-held investment principles regarding declining stocks.
Carson Group's Ryan Detrick said, “With stocks extremely oversold going into this historically strong time of year, we’d expect to see a bounce to close out a solid year for investors in 2024.”
