3 Reasons to Buy Occidental Petroleum (and Warren Buffett Isn't 1 of Them)
Occidental Petroleum (NYSE: OXY) has become a popular oil stock in recent years. Warren Buffett has a lot to do with it. His company, Berkshire Hathaway, has been buying the oil stock hand over fist. It currently owns 28% of Occidental's outstanding shares.
Many investors will likely buy Occidental to follow Buffett, especially since he considers it a potential "forever" holding. Here are three other reasons to buy the oil stock that are even more important than the fact Buffett owns shares.
Last December, Occidental Petroleum agreed to buy CrownRock for $12 billion in cash and stock. The acquisition will enhance its already strong position in the Permian Basin. The company had hoped to close that deal in the first quarter. However, regulatory delays will likely push the closing into the second half of the year.
Source Fool.com
Occidental Petroleum Corp. Aktie
Die Community bevorzugt klar Occidental Petroleum Corp. mit vielen Buy- und nur wenigen Sell-Einschätzungen.
Das Kursziel von 70 € für Occidental Petroleum Corp. zeigt eine leichte Steigerung gegenüber dem aktuellen Kurs von 58.35 € an.
