"Warren Buffett Increases Investment in Occidental Petroleum, Fueling Consolidation in U.S. Oil Industry"
Originally Published 2 years ago — by Yahoo Finance
Warren Buffett's investment firm, Berkshire Hathaway, has increased its stake in Occidental Petroleum Corp by acquiring 10,482,162 shares, bringing its total holdings to 238,533,189 shares. This move reflects Buffett's confidence in the energy sector and Occidental Petroleum's prospects. The acquisition has a 0.19% impact on Buffett's portfolio, making Occidental Petroleum the fourth-largest holding in his portfolio. The company's financial health is mixed, with a GF Score indicating above-average performance but a GF Value Rank suggesting the stock may be overvalued. Other notable investors in Occidental Petroleum include Dodge & Cox and Prem Watsa. Buffett's investment in the oil and gas industry highlights his ability to identify value in cyclical industries.
