Berkshire Hathaway (BRK.B) (BRK.A), the investment giant built by Warren Buffett, had already disclosed large stakes in Occidental (OXY), now amounting to 136.4M shares or ~15% of the petroleum company’s stock.
Occidental Petroleum Is About To Crush Its Debt And Own The House – debt load to fall by nearly $20B in the coming year.
Occidental Petroleum has strong cash flow generation, but is still not cheap relevant to its enterprise value.
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities. Occidental’s wholly owned subsidiary, OxyChem, is a major North American chemical manufacturer. Occidental is committed to respecting the environment, operating safely and upholding high standards of social responsibility throughout the company’s worldwide operations. Occidental strategy relies on increasing production through developing conventional and unconventional fields. Occidental is a worldwide leader in applying advanced technology to boost production from mature oil and natural gas fields and access hard-to-recover reserves.
6-month stock price: $OXY vs S&P 500 (blue solid line)
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