OXY
🛢️ Occidental Petroleum is Warren Buffett’s primary stock purchase this year, amidst widespread negative sentiment towards the energy sector.
📉 Despite a recent drop in stock price to $45, the company’s earnings forecasts have increased, showcasing strong management.
💰 Occidental benefits significantly from changes in oil prices, generating an additional $240 million in profit for every dollar increase in the WTI barrel price.
📈 If oil prices rise to $87-89, the company could generate an additional $5 billion in profit, potentially doubling its market capitalization.
@Artedeinvertir:
“Warren Buffett has been buying shares of a petroleum company, Occidental Petroleum. In the last quarter that Occidental published, we see that they have even raised their profit forecasts with oil prices falling, which demonstrates the good management of the company. The company has reported almost one dollar of profit per share with the petroleum very depressed, which is almost four dollars annualized, which is about 10 or 11 times earnings.”
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