Occidental Petroleum Corporation (OXY) in Houston, Tex., is an international energy company that is engaged primarily in the exploration and development of oil and gas. It is one of the largest oil producers in the United States, operating through three segments: Oil and Gas; Chemical; and Midstream and Marketing. The company has assets across the United States, the Middle East, and North Africa. OXY is also one of the leading oil producers in the Permian and DJ basins and the offshore Gulf of Mexico.
Legendary investor Warren Buffett has been investing in OXY stock lately through his firm Berkshire Hathaway (BRK.A). As of March 29, 2022, Buffett owned approximately 136.40 million shares of OXY, translating to a 14% stake in the company. Buffett owns roughly $7.70 billion worth of OXY shares. In fact, he bought more than 100 million OXY shares in March. Buffett initially invested in OXY in 2019, betting on its potential assets in the Permian Basin. He recently said in an interview that OXY CEO Vicki Hollub is "running the company the right way."
