Why Warren Buffett Loves Occidental Stock And What It Means For Chevron
CVXChevron(CVX) Benzinga·2024-10-19 02:31

Occidental Petroleum Corp. OXY is down 13.4% in 2024 and over 20% in the last 12 months. However, that hasn't seemed to bother Warren Buffett one bit. His Berkshire Hathaway Inc. (NYSE: BRK-B) portfolio has continued to buy OXY stock. As of this writing, Berkshire owns approximately 29% of Occidental, with regulatory approval to buy up to 50%. Conversely, in the last quarter, Berkshire Hathaway sold 4.3 million shares of Chevron Corp. CVX. However, since the fourth quarter of 2022, Buffett has sold CVX stoc ...