In general, when markets trend lower, it makes sense to invest in blue-chip stocks. They tend to have a low beta and also provide regular cash flows through dividends. Yet, not all blue chips are created equal. Based on macroeconomic or company-specific factors, there are some you want to buy and some blue-chip stocks to sell. For example, blue-chip retailer Target (NYSE: TGT ) sits 45% below its 52-week high, weighed down by inflationary pressures and margin compression. And pharmaceutical giant Pfizer (NYSE: PFE ) is 30% below its high on concerns of a slowdown in growth predominately due to lower Covid-19 vaccine sales. So, investors need to carry out due diligence even with blue chips. Today’s list of blue-chip stocks to sell in October contains popular names that are likely to correct or correct even further. PEP PepsiCo $163.26 COST Costco Wholesale $472.27 FCX Freeport-McMoRan $27.35 OXY Occidental Petroleum $61.43 PepsiCo (PEP) Source: 8ED8 / Shutterstock PepsiCo (NASDAQ: PEP ) stock is up 11% over the past year, bucking the broader bear market, and it throws off a healthy 2.7% dividend yield.
Berkshire Hathaway (NYSE: BRK.A), a conglomerate helmed by Warren Buffett, strengthened its largest shareholder position on Occidental Petroleum (NYSE: OXY) by purchasing
Occidental Petroleum Corporation (NYSE:OXY)’s traded shares stood at 6.43 million during the latest session, with the company’s beta value hitting 1.87. At the last check today, the stock’s price was $61.34, to imply a decrease of -1.24% or -$0.77 in intraday trading. The OXY share’s 52-week high remains $77.13, putting it -25.74% down since that … Occidental Petroleum Corporation (NYSE: OXY) Stock Falling -13.75% Over A Month – Any Room For Its Value To Rise? Read More »
Warren Buffett''s Berkshire Hathaway bought another 5.99 million shares of Occidental Petroleum. Click to read my PT & recommendation on OXY stock.
On Wednesday afternoon post market close, Warren Buffett’s Berkshire Hathaway in a Form 4 filing with the SEC disclosed the purchase of another ~6 million shares in Occidental Petroleum (NYSE:OXY) from Monday to Wednesday. Berkshire Purchases More Occidental Petroleum Shares The purchase comes as OXY’s share price retraced over -20% lower from late August through […]
Warren Buffett has been buying Occidental Petroleum stock all year long and has bought it at relative highs as well as lows. Click here to read more.
Against an incredibly dour equities market backdrop, oil firm Occidental Petroleum (NYSE: OXY ) managed a positive return in the afternoon session. Still, OXY stock gyrated significantly to get there. Driving the kinesis for the hydrocarbon player was Warren Buffett. Through Berkshire Hathaway (NYSE: BRK-A , NYSE: BRK-B ), the legendary investor acquired just under 6 million shares of OXY. In doing so, Berkshire’s stake in the energy company is now 20.9%. According to regulatory filings, the conglomerate spent about $350 million on the purchases of OXY stock. The acquired per-share price ranged from $57.91 to $61.38. According to Barron’s , “Berkshire needs to file a form 4 with the Securities and Exchange Commission within two business days when it buys or sells stock in Occidental Petroleum because it holds more than 10% of the company.” Following the transactions, Berkshire holds 194.4 million shares of OXY stock, worth about $11.9 billion. In August of this year, “a U.S. energy regulator gave Berkshire permission to buy up to 50% of Occidental’s common stock,” according to a Reuters report.
OMAHA, Neb. (AP) — Warren Buffett’s company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21% of the oil producer. These are the first purchases Berkshire Hathaway has made since regulators gave it approval last month to buy up to 50% of Occidental, but since February Buffett has been consistently buying shares of the Houston-based company any time they drop below $60 apiece. Berkshire’s Occidental stake is now worth nearly $12 billion after its shares nearly doubled this year after Russia invaded Ukraine and oil prices soared. Occidental’s shares gained nearly 2% Thursday to sell for $62.39 after Berkshire disclosed its latest purchases in a filing with the Securities and Exchange Commission. Buffett’s Omaha, Nebraska-based conglomerate has bet heavily on the oil sector this year. Besides its Occidental purchases, Berkshire bought roughly $20 billion worth of Chevron shares. Berkshire’s Occidental purchases have inspired speculation that Buffett might try to buy the entire company, but Buffett doesn’t generally comment on Berkshire’s stock purchases beyond what it is required to disclose.
Oil prices have fallen from their March highs as demand concerns amid a possible economic downturn have been a drag. As per Reuters, Goldman Sachs lowered its 2023 oil price forecast by $19 per barrel (on average) for the period from Q4 2022 to Q4 2023, reflecting expectations of lower demand and a strong U.S. dollar. That said, the investment bank continues to have a bullish long-term outlook supported by global supply issues amid the ongoing Russia-Ukraine crisis. Bearing in mind a volatile market backdrop, we will discuss three oil stocks – EOG Resources (NYSE:EOG), Occidental Petroleum (NYSE:OXY), and Exxon Mobil (NYSE:XOM).
Occidental Petroleum Corporatio found using ticker (OXY) have now 23 analysts covering the stock with the consensus suggesting a rating of ''Hold''. The target price ranges between 110 and 57 calculating the average target price we see 75.88. Given that the stocks previous close was at 57.88 this would indicate that there is a potential upside of 31.1%. The 50 day MA is 65.23 and the 200 moving average now moves to 54.33. The company has a market cap of $54,520m. Find out more information at: https://www.oxy.com [stock_market_widget type="chart" template="basic" color="green" assets="OXY" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $71,475m based on the market concensus. Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
Carbon capture will become an exponentially expanding market in the next decade. Click here to see a detailed synopsis of carbon capture technologies from Occidental.
In the 2020s, investors are torn between two schools of thought. On one side are your parents and grandparents, who did just fine over the years investing in classic energy companies like Exxon Mobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY). On the other hand, new energy firms like Tesla (TSLA), Plug Power (PLUG), and First Solar (FSLR) are grabbing the headlines and capturing the attention of younger traders. Picking between fossil fuel drillers and clean fuel businesses isn''t a political decision, but a practical one.
Why are oil stocks down today? Well, that can be summed up by the decline in energy prices, the rise in the dollar and the fall in stocks.
Two years ago, I wrote about buying on the dip as an investment strategy for those in the FIRE movement. FIRE stands for Financial Independence, Retire Early, and involves a commitment to both cutting your daily expenses and an accelerated investment strategy. Today, FatFIRE is the “in” retirement concept. FatFIRE takes things a step further. Devotees to this new movement want to be able to “retire with a fat stash” that allows them to live on around $100,000 a year . According to Fortune, FatFIRE split off from FIRE in 2016 when a Reddit user decided cutting his expenses to the bone wasn’t his idea of a good time. And so the subreddit r/fatFIRE was born. Today, it has more than 330,000 members. The downside of FatFIRE is that it’s incredibly unrealistic. Very few people have the skillset to pull it off. Financial planner Dana Menard puts it at around a tenth of the population. If you believe you’re in this cohort, though, here are seven investments to help you with your FatFIRE dreams.
Should you buy this oil stock sell-off?
Shares of oil and gas companies were taking a broad beating ahead of Friday''s open, as growing concerns of a coming recession has sent crude oil futures sinking toward an eight-month low. The SPDR Energy Select Sector ETF slumped 3.2% in premarket trading, with all 21 components selling off, as crude futures shed 3.4% and while futures for the S&P 500 fell 1.4%. Within energy ETF, the biggest decliners were shares of Marathon Oil Corp. and Devon Energy Corp. , which both fell 4.0%. Among the more-active components, shares of Occidental Petroleum Corp. slid 3.5% and Exxon Mobil Corp. declined 2.9%. The best performer was Williams Companies Inc.''s stock , which gave up 2.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Occidental Petroleum Corporation (NYSE:OXY) concluded the trading at $62.68 on Wednesday, September 21 with a fall of -2.49% from its closing price on previous day. Taking a look at stock we notice that its last check on previous day was $64.28 and 5Y monthly beta was reading 1.95 with its price kept floating in the … Occidental Petroleum Corporation (OXY) Volatility Hits 3.46%: How An Investor Should Respond Read More »
While both stocks are solid bets on oil prices, one appears to have a more short-term appeal than the other.
It’s been a banner year for energy stocks. With oil prices cresting above $120 a barrel and continuing to trade in a range between $85 and $105, energy companies are reaping record profits and issuing incredible earnings. Many energy companies have announced net income that is up more than 3,000% from year-earlier levels. It all amounts to a windfall for an industry that was decimated during the pandemic when oil prices finished 2020 below $50 per barrel. The strong earnings have led to outperformance among energy stocks this year, with many share prices up 25%, 50%, even 100%. Oil stocks have been the lone bright spot in an otherwise dismal year for equities. While some analysts continue to debate whether oil prices have peaked, the consensus view is that the earnings of oil companies will remain strong through the remainder of this year. With that in mind, here are seven energy stocks primed for a Q3 earnings gusher. XOM ExxonMobil $90.95 OXY Occidental Petroleum $62.68 CVX Chevron $155.01 DVN Devon Energy $64.48 PXD Pioneer Natural Resources $228.00 KMI Kinder Morgan $17.52 MRO Marathon Oil $25.18 ExxonMobil (XOM) Source: Michael Gordon / Shutterstock.com For this year’s second quarter, ExxonMobil (NYSE: XOM ) reported that its revenues rose 69% year-over-year to $111.99 billion.
Occidental Petroleum Corporation (OXY)’s stock has witnessed a price hike of 0.49% from the previous close with its current price standing at $64.59. Its current price is -16.25% under its 52-week high of $77.13 and 157.66% more than its 52-week low of $25.07. Based on the past 30-day period, the stock price is -15.52% below […]
Neurotic Markets Swing Ahead Of Fed Decision, Eyeing Ukraine War Escalation With traders nervously doing nothing ahead of today''s FOMC meeting, where Powell will announce a 75bps rate hike but all attention will be on whether the 2023 median dot (which as we previewed will unleash havoc if it comes above 4.5% which is where market expectations top out for this hiking cycle), today market got an extra jolt of volatility just before the European open when shortly after 2am ET Vladimir Putin delivered his postponed message to announce a "partial mobilization" over the Ukraine war. The news slammed stocks, yields, and the euro while sending oil and commodities sharply higher. And while the initial spike lower has reversed and futures are modestly in the green now, there is zero liquidity right now and the smallest sell program could topples risk assets. As of 7:15am ET, US futures pointed to a recovery from Tuesday’s tumble on anxiety policy makers are hoping to spark a recession in their zeal to subdue price pressures.
Warren Buffett. Paul Morigi/Getty Images for Fortune/Time Inc Berkshire Hathaway made a $2 billion error by selling Occidental Petroleum stock in 2020. Warren Buffett''s company…
Occidental Petroleum Corporation (NYSE:OXY) traded at $64.57 at last check on Monday, September 19, made an upward move of 0.25% on its previous day’s price. Looking at the stock we see that its previous close was $64.41 and the beta (5Y monthly) reads 1.95 with the day’s price range being $63.01 – $65.04. The company … Occidental Petroleum Corporation (NYSE: OXY) Is Up 122.18% Year-To-Date, But Analysts Find Room For A Price Rally Read More »
Occidental''s stock price is clearly not too high for Warren Buffett. See why I think OXY stock has considerable future appreciation potential.
"Mad Money" host Jim Cramer rings the lightning round bell, which means he''s giving his answers to callers'' stock questions at rapid speed.
Long before becoming the “Oracle of Omaha,” six-year-old Warren Buffett was an entrepreneur selling sticks of gum and Coca-Cola to earn money. By the time Buffett turned 11 years old, he opened his first position paying $114.75 for Cities Service, a natural gas company founded in 1910. The company no longer exists, as it was purchased by Occidental Petroleum (NYSE: OXY ) in 1982. But, if the position from when Buffett was 11 was still in Berkshire Hathaway Inc (NYSE: BRK-A ) as of January 2019, the investment would be worth $606,611 pre-tax, according to CNBC. Though there may not be enough time in the day to sell Coca-Cola on the side, investing in it and another high-yield dividend company Buffett holds could earn … Full story available on Benzinga.com
Occidental Petroleum Corporation (NYSE:OXY) shares, rose in value on Thursday, September 15, with the stock price down by -1.98% to the previous day’s close as strong demand from buyers drove the stock to $65.87. Actively observing the price movement in the recent trading, the stock is buoying the session at $67.20, falling within a range … Occidental Petroleum Corporation (NYSE: OXY) Is An Exciting Stock To Watch. Read More »
Energy shares have pared their gains in September as oil prices have cooled down. The price of Brent crude is now below $94 per barrel . Yet in early March, it had surged over $130 .Given the decline of oil prices, investors should identify a number of oil stocks to sell. The global oil market is likely to continue to be turbulent throughout the year. Investors’ fears of a global economic decline and the ongoing Covid-19 lockdowns in China — the top importer of crude oil — could be weighing on petroleum prices. Oil traders are also factoring in the negative economic impact of higher interest rates. On the other side of the equation are positive catalysts for oil prices. According to the recent short-term energy outlook of the U.S. Energy Information Administration (EIA), “the possibility of petroleum supply disruptions and slower-than-expected crude oil production growth continues to create the potential for higher oil prices.” Put another way, investors should expect more choppiness in energy prices for the rest of 2022.
Occidental Petroleum (OXY) likely will be able to accelerate share buybacks in 2023, which would spur paydowns in its preferred shares, analysts at JPMorgan said in a research note…
Investors are buying these oil stocks on the dip in anticipation of a tighter oil market and higher crude prices.
Buffett''s involvement in Occidental Petroleum has turned a poor performer into one of the stars of 2022. Click here to read our analysis of OXY stock.
Energy stocks have been the best performers of 2022, with the sector up 48% compared with a 14% loss for the broader market. In fact, the only other sector that has generated a positive return this year is utilities, and their 9% gain pales in comparison. Fueling the rise in energy stocks has been the stark increase in oil and natural gas prices. At some point, the boom in energy prices will end and energy stocks will almost certainly give back some of their gains. However, that time is not yet here. And while the rising tide has lifted nearly all boats, it makes sense for investors to focus on the companies with strong earnings and sales growth. They are likely to outperform their peers and retain more of their gains even when the sector turns lower. With that in mind, let’s look at a few energy stocks that investors may want to focus on. OXY Occidental Petroleum $65.32 XOM Exxon Mobil $95.34 PXD Pioneer Natural Resources $241.97 Occidental Petroleum (OXY) Source: Pavel Kapysh / Shutterstock.com Occidental Petroleum (NYSE: OXY ) is by far the best performer on this list, boasting a year-to-date gain of 125%.
Occidental Petroleum Corporation (OXY)’s stock has witnessed a price declined of -1.95% from the previous close with its current price standing at $65.50. Its current price is -15.08% under its 52-week high of $77.13 and 162.42% more than its 52-week low of $24.96. Based on the past 30-day period, the stock price is -14.43% below […]
Oil and gas prices, and a major billionaire investor''s activity drew attention to the oil stocks.
Here''s how to trade it….OXY
A recent filing shows that Warren Buffett continues to hold an outsized position in Occidental Petroleum stock. Is it time for investors to as well?
Warren Buffett''s Berkshire Hathaway now owns 28.6% of Occidental Petroleum, and it could go as high as 50%.
Monday''s additional top analyst upgrades and downgrades were on APA, Barrick Gold, Canadian National Railway, Canadian Pacific Railway, Livent, Newmont, Occidental Petroleum, Roblox and more.
Upgrades According to TD Securities, the prior rating for John Hancock Financial Opportunities Fund (NYSE: BTO ) was changed from Buy to Action List Buy. The stock has a 52-week-high of $52.88 and a 52-week-low of $31.95. At the end of the last trading period, John Hancock Finl Opps closed at $35.82. According to RBC Capital, the prior rating for Vale SA (NYSE: VALE ) was changed from Sector Perform to Outperform. Vale earned $1.32 in the second quarter, compared to $1.49 in the year-ago quarter. The stock has a 52-week-high of $21.29 and a 52-week-low of $11.72. At the end of the last trading period, Vale closed at $13.51. According to Raymond James, the prior rating for Enbridge Inc (NYSE: ENB ) was changed from Market Perform to Outperform. In the second quarter, Enbridge showed an EPS of $0.53, compared to $0.54 from the year-ago quarter. At the moment, the stock has a 52-week-high of $47.67 and a 52-week-low of $38.94. Enbridge closed at $41.82 at the end of the last trading period.
Source: Savvapanf Photo/ShutterStock.com Restaurant Brands International (NYSE: QSR ) stock is gaining on Monday after Burger King announced plans to invest $400 million into its business . According to the fast food chain, it will use these funds to upgrade its facilities. That includes enhancing equipment used by its employees, as well as remodeling select stores with a more modern appearance. Investors in QSR stock will note that Burger King wants to focus more on technology and digital investments. That, combined with plans for more advertising, is part of its efforts to increase sales growth and improve profitability. Burger King notes that it will spend that $400 million over a two-year period. It also has two investment plans. The first is called “Royal Reset” and will get $250 million for upgrades and remodels. The second is “Fuel the Flame” and will get $150 million for advertising and digital investments. Tom Curtis, president of Burger King North America, said the following about the investments. “We are relentlessly pursuing a better experience for our Guests.
The post Dow Jones Futures: Market Rally Faces This Risk: Elon Musk’s New Move Vs. Twitter; Warren Buffett Buys More OXY Stock appeared on BitcoinEthereumNews.com . Futures Due: Market Rally Faces This Risk; Musk, Buffett Make Deal MovesDow Jones futures open Sunday evening, along with S&P 500 futures and Nasdaq futures. Warren Buffett stock Occidental Petroleum,…
Warren Buffett''s Berkshire Hathaway disclosed its Occidental Petroleum stake has risen to 26.8%. OXY stock rose slightly late Friday.
Berkshire has spent this year expanding its ownership in Occidental after first making a bet on the Houston-based oil company three years ago.
Berkshire has spent this year expanding its ownership in Occidental after first making a bet on the Houston-based oil company three years ago.
Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) bought more stock in Occidental Petroleum (OXY) to increase its holdings to 26.8% of outstanding shares, a regulatory filing…
Occidental Petroleum Corporation (NYSE:OXY) price on Friday, September 09, rose 0.05% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $64.64. A look at the stock’s price movement, the level at last check in today’s session was $64.61, moving within a range at $64.03 and $66.20. The beta … Occidental Petroleum Corporation (NYSE:OXY) Stock Could Be Worth Considering Read More »
Stocks that traded heavily or had substantial price changes Wednesday: Coupa Software, Glaukos rise; Occidental Petroleum falls
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: EQT Corp., up 57 cents to $46. The natural gas company announced the purchase of gas and pipeline assets and doubled its stock buyback program. Coupa Software Inc., up $10 to $65.82. The software company reported strong second-quarter financial results. HealthEquity Inc., up 64 cents to $64.08. The provider of services for managing health care accounts raised its revenue forecast for the year. Occidental Petroleum Corp., down $1.45 to $65.43. Energy stocks slipped along with falling oil prices. Target Corp., up $7.21 to $170.79. The retailer is dropping the mandatory retirement age for its CEO, allowing Brian Cornell to stay on for three more years. United Parcel Service Inc., up 33 cents to $196.29. The package delivery service plans to hire more than 100,000 extra workers to help handle an increase in packages during the critical holiday season. Glaukos Corp., up $8.91 to $57.01. The drug developer gave investors an encouraging update on a potential glaucoma treatment.
What will it take to move oil prices higher again?
Dave Gilbert here, Editor of Smart Money . Warren Buffett’s investing philosophy can be summed up in this famous quote from him: Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1. The temptation is to say, “That’s it?” But it is a lot harder to do than it is to say, and who’s to argue with someone who is worth nearly $100 billion? Just one Class A share of Buffett’s investment holding company, Berkshire Hathaway Inc. ( BRK-A ), trades for $415,000. The man clearly knows what he’s doing, so investors follow his every move closely. His annual letters to Berkshire Hathaway shareholders are viewed as masterclasses in investing. His speeches, media appearances, and interactive sessions at shareholder meetings give us additional insight into the thinking of the man called “The Oracle of Omaha.” So do the quarterly filings of Berkshire Hathaway. These statements to the U.S. Securities and Exchange Commission show the company’s buys and sells from the prior quarter, giving investors a look at the specifics instead of the generalities.
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