Warren Buffett's Occidental Petroleum Pick Suddenly Makes Even More Sense
Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) 2022 re-entry into a position in oil giant Occidental Petroleum (NYSE: OXY) wasn't exactly expected. But investors didn't balk, either. Warren Buffett's owned plenty of energy stocks in the past, after all, and there's no denying the world remains dependent on crude oil.
Buffett and his acolytes' decision to reopen an Occidental Petroleum trade -- and add to it in the meantime -- is looking increasingly brilliant. Demand for oil continues to grow despite the advent of alternative energy sources, and the global supply of crude is facing a potential crunch that could keep oil prices elevated into the distant future.
That's the take from Occidental CEO Vicki Hollub, and she would arguably know as well as anyone could.Her company also stands to greatly benefit from this brewing supply/demand dynamic.
Source Fool.com
Occidental Petroleum Corp. Stock
With 15 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 70 € there is a positive potential of 25.54% for Occidental Petroleum Corp. compared to the current price of 55.76 €.
