Occidental Petroleum (NYSE: OXY) is showing signs of a strong comeback. The stock is positioned for a potential breakout after a market correction to long-term lows—coinciding with Warren Buffett’s strategic entries. Key drivers include the company’s financial strength, increasing capital returns, bullish analyst sentiment, and, of course, Buffett’s continued confidence in OXY.
Berkshire Hathaway recently made another calculated buy in February, reinforcing the December bottom—another instance where Buffett’s purchases signaled a key turning point. This latest addition, worth $35.725 million, nudges Berkshire’s stake closer to 29% of the company, a clear indication of confidence in Occidental’s future.
