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Mangeet Kaur Bouns

Warren Buffett Just Picked up This Buy-Rated Energy Stock

Warren Buffett OXY Oil Oil and Gas Mangeet Kaur BounsMangeet Petroleum Occidental Petroleum Corporation

With a $55.18 billion market cap., Occidental Petroleum Corporation (OXY) engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas; Chemical; and Midstream and Marketing.

On Monday, Warren Buffett’s Berkshire Hathaway Inc. (BRK.A) announced that it had purchased another 797,389 shares of OXY, raising its stake to about 16.4% in the company. Berkshire is also the largest individual shareholder in OXY.

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