Warren Buffett Owns Occidental, but You Should Consider These 3 Energy Stocks Instead
Warren Buffett's company, Berkshire Hathaway, has been buying shares of oil giant Occidental Petroleum (NYSE: OXY) hand over fist. Berkshire currently owns nearly 28% of Occidental's outstanding shares (and has regulatory approval to buy up to half the company). At 3.8% of its investment portfolio, it's Berkshire's sixth-largest stock holding.
However, while Buffett and his team clearly love Occidental, that doesn't mean it's the best oil stock for everyone. Chevron (NYSE: CVX), EnLink Midstream (NYSE: ENLC), and Enterprise Products Partners (NYSE: EPD) stand out to a few Fool.com contributors as better options in the energy sector. Here's why they like them better than Occidental.
Reuben Gregg Brewer (Chevron): Shortly before the coronavirus pandemic, Occidental got into a bidding war with Chevron over Anadarko Petroleum. With the help of Warren Buffett, Oxy won the deal. In the end, Chevron didn't want to overpay, which might have put its rock-solid financial position at risk.
Source Fool.com
Occidental Petroleum Corp. Stock
With 21 Buy predictions and 2 Sell predictions Occidental Petroleum Corp. is one of the favorites of our community.
With a target price of 70 € there is a slightly positive potential of 16.12% for Occidental Petroleum Corp. compared to the current price of 60.28 €.
