Should You Buy Occidental While It's Below $60?
Occidental Petroleum (NYSE: OXY) has struggled over the past several months, and the stock is down 28% from its 52-week high (set in April). The company's significant upstream operations make it susceptible to fluctuations in oil prices, and the recent downward trend in crude-oil prices affected its performance.
Despite these challenges, Warren Buffett continues to increase his company's stake in Occidental. Over the past year, Berkshire Hathaway has acquired an additional 31 million shares, bringing its total shares owned to 255 million, making it the company's sixth-largest holding at the end of Q2.
Buffett showed confidence in Occidental, but is it right for you? Let's dive into the business to find out.
Source Fool.com
Occidental Petroleum Corp. Stock
€51.02
6.410%
Currently there is a rather positive sentiment for Occidental Petroleum Corp. with 21 Buy predictions and 11 Sell predictions.
On the other hand, the target price of 46 € is below the current price of 51.02 € for Occidental Petroleum Corp., so the potential is actually -9.84%.
