Want to find profitable oil stocks? Pay attention to what Warren Buffett is buying. His holding company, Berkshire Hathaway, now owns several oil stocks. Two in particular are worth diving into now.

As of last quarter, Berkshire Hathaway held around 250 million shares of Occidental Petroleum (NYSE: OXY) worth roughly $14 billion. Given that Occidental has a market share of only $57 billion, Berkshire's stake translates into nearly 25% ownership of the entire company.

Occidental has many things going for it in today's operating environment. Analysts at Scotiabank recently upgraded the stock to sector outperform with a price target of $90 per share. With the current stock price hovering just above $60, that would represent nearly 50% in total upside.

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Source Fool.com