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MarketBeat
Business
Thomas Hughes

Occidental Petroleum Hits New Low: Will Buffett Take the Bait?

Occidental Occidental Petroleum Buffet Petroleum Berkshire Hathaway Berkshire MarketBeat

Anyone watching the Occidental Petroleum (NYSE: OXY) market will know that Warren Buffett has driven the price action. Fundamental qualities aside, Berkshire Hathaway's (NYSE: BRK.A) stock purchases began in early 2022, coinciding with an updraft in share prices, and have supported the stock numerous times since. With the stock falling below the trigger point, the question is if he’ll take the bait and buy more.

The Berkshire stake is already approaching 30% but could quickly grow to over 40% if more stock is bought, including warrants. Berkshire hasn’t purchased any OXY shares tracked by MarketBeat since June 2024, but the next may come any day. 

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