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Why Occidental Petroleum Rallied Today

TheMotleyFool 
0 0 12.03.26
Why Occidental Petroleum Rallied TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png
 

Shares of Occidental Petroleum (NYSE: OXY) rallied 5.1% on Thursday.

Occidental is one of Warren Buffett's two favorite oil and gas companies and Berkshire Hathaway's (NYSE: BRKA) (NYSE: BRKB) seventh-largest overall public equity position.

Days like today explain why Buffett likes Occidental's strategic positioning so much. If global oil supplies are cut off in geopolitically fraught geographies overseas, Occidental's deep, low-cost inventory in the Permian Basin becomes a very valuable asset.

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Source Fool.com

Occidental Petroleum Corp. Stock

€50.45
0.700%
The Occidental Petroleum Corp. stock is trending slightly upwards today, with an increase of €0.35 (0.700%) compared to yesterday's price.
Currently there is a rather positive sentiment for Occidental Petroleum Corp. with 32 Buy predictions and 15 Sell predictions.
On the other hand, the target price of 50 € is below the current price of 50.45 € for Occidental Petroleum Corp., so the potential is actually -0.89%.
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