 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Occidental Petroleum Corporation (OXY), together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene.
The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities.
Occidental Petroleum reported Quarter December 2021 earnings of $1.48 per share on revenue of $8.0 billion. The consensus earnings estimate was $1.08 per share on revenue of $7.3 billion. Revenue grew 139.2% on a year-over-year basis.
Berkshire Hathaway buys additional 18.1M shares of Occidental Petroleum - Warren Buffett's Berkshire Hathaway (BRK.A) purchased an additional 18,102,616 shares of Occidental Petroleum common stock in transactions between March 14 and March 16 at an average price of $54.41 in a transaction valued at about $985M, according to a regulatory filing last night. The nearly $1B purchases brings its stake to 136.4M shares, or a 14.6% interest. Shares should rise higher as a result Buffet's investments and rumors that he seeks to acquire the company.
Entry Point: $57.25
Stop Loss: $54.50
Trading Range: $21.62 - $59.60
Target Price: $63.00
OXY closed at $61.50
