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
€46.89
-4.990%
Our community is currently high on Occidental Petroleum Corp. with 25 Buy predictions and 15 Sell predictions.
However, we have a potential of -1.89% for Occidental Petroleum Corp. as the target price of 46 € is below the current price of 46.89 €.
