Why Occidental Petroleum Rallied Today
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.
Source Fool.com
Occidental Petroleum Corp. Stock
Currently there is a rather positive sentiment for Occidental Petroleum Corp. with 32 Buy predictions and 15 Sell predictions.
With a current price of 49.96 € Occidental Petroleum Corp. is right around the predicted target price of 50 €.


