Occidental Petroleum (NYSE: OXY) is an oil stock that has made it onto many investors' radar thanks to Warren Buffett and Berkshire Hathaway's buying activity. Berkshire first acquired interest in the oil and gas giant in 2019, when it offered $10 billion to Occidental to facilitate its acquisition of Anadarko Petroleum. Since 2022, Berkshire has purchased 228 million shares on the open market for around $11 billion.

The oil company is a solid source of cash flow, and its balance sheet has improved substantially over the past several years. Here's what you should consider before buying Occidental.

Occidental Petroleum engages in oil and gas exploration and production, with operations in the U.S., Middle East, Africa, and Latin America. These activities account for the bulk of its revenue, with midstream activities, like processing, transportation, and chemical production making up the remainder.

Continue reading

Source Fool.com