Famed investor Warren Buffett’s portfolio has seen a new favorite emerge in recent years and that is Occidental Petroleum (OXY). Founded in 1920, Occidental Petroleum is a prominent American energy company with a diverse portfolio in oil, gas, and chemicals. The company is primarily engaged in hydrocarbon exploration and production, along with petrochemical manufacturing.
Buffett made his first investment in the company in 2019, purchasing 4.7 million shares at an average price of $47.28 per share. Since then, he has steadily increased his stake in the company to nearly 30%.
