OXY Keeps Rising as Buffett Loosens Purse Strings
Story Highlights
Last month, Berkshire acquired about 10.34 million OXY shares in the range of $55.38 and $55.35 per share. In all, in the past month, Berkshire has snapped up OXY stock worth $1.15 billion. Moreover, since March, Buffett has accumulated OXY shares worth $9.88 billion, which is a sizable chunk of the company’s $55.64 billion market capitalization.
Last month, Berkshire acquired about 10.34 million OXY shares in the range of $55.38 and $55.35 per share. In all, in the past month, Berkshire has snapped up OXY stock worth $1.15 billion. Moreover, since March, Buffett has accumulated OXY shares worth $9.88 billion, which is a sizable chunk of the company’s $55.64 billion market capitalization.
Most importantly, these purchases have been concurrent with a 95.6% rise in $Occidental Petroleum(OXY.US$ shares so far in 2022. Buffett’s OXY transactions are already profitable, which gives him a 50% success rate in the stock already.
Meanwhile, the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating and an average price target of $74.53, which implies a further 23.31% potential upside for OXY shares.
Analyst’s Take
Meanwhile, the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating and an average price target of $74.53, which implies a further 23.31% potential upside for OXY shares.
Meanwhile, the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating and an average price target of $74.53, which implies a further 23.31% potential upside for OXY shares.
Barclays analyst Jeanine Wai has reiterated a Buy rating on OXY while increasing the price target to $84 from $74. The analyst is favorable on names in the oil and exploration space.
Closing Note
Improving fundamentals, robust cash flow generation, and a focus on increasing investor value, with a price-to-earnings ratio of 9.2, a price-to-sales ratio of 2.01, and a price-to-free cash flow ratio of 6.60, have firmly put OXY on Buffett’s radar.
Improving fundamentals, robust cash flow generation, and a focus on increasing investor value, with a price-to-earnings ratio of 9.2, a price-to-sales ratio of 2.01, and a price-to-free cash flow ratio of 6.60, have firmly put OXY on Buffett’s radar.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Buffett and Berkshire Hathaway latest Quotes and News.
854Followers
15Following
1915Visitors
Follow
1994CM : Not sure whether to buy the Energy sector stocks?
whqqq : But Berkshire also holds a large proportion of shares in other companies. He is constantly investing in OXY, I think this may only show that this company is in line with his judgment on profitable enterprises.
plucky Kangaroo1 : the man has been around too long, the decisions he makes will be a good thinking. for the best of the company's
BuffetttttttOP 1994CM: big drop...
BuffetttttttOP whqqq: Possible
BuffetttttttOP plucky Kangaroo1: Always learn from him
1994CM BuffetttttttOP: Maybe I would do research, learn & understand.
BuffetttttttOP 1994CM: OKAY
1994CM : Then I will buy OXY shares.
plucky Kangaroo1 : hey this is derek, Haha I got me a phone together. it's been a minute. been going thru kinda a ruff time. And the whole system is working, brilliantly
View more comments...