Don't Follow Buffet's Move on Occidental Petroleum: Here's Why
Today’s Buffet -driven rally has Occidental Petroleum shares trading at $47.50. The stock’s 50- and 200-day moving averages are overhead in a bearish pattern. This suggests that OXY is likely to shake-off this one-day price pop and maintain its move lower.
Occidental Petroleum Stock Pops on Buffett Stake
Shares of Occidental Petroleum Corp (NYSE:OXY) are up 4.4% at $47.36 at last glance, after Warren Buffett's Berkshire Hathaway (BRK) bought an addition 8.9 million shares in the energy producer. This is just one of the conglomerate's moves to buy stocks on the dip after the recent selloff, and Occidental is Berkshire's sixth-largest equity holding.
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The Berkshire Hathaway CEO spent more than $400 million on Occidental Petroleum shares, which just hit a nearly three-year ...
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Warren Buffett Is Buying Again - But There's A Big Catch This TimeThis post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions ...
Billionaire Warren Buffett 's investment firm went on a buying spree this week, sweeping up shares of Occidental Petroleum, Sirius XM Holdings, and VeriSign, Barron's reported, citing filings with the ...
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