Warren Buffett's Bullish Move Fails To Stir Occidental Petroleum Stock - Focus Shifts to Q3 Earnings Report
Portfolio Pulse from Surbhi Jain
Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum Corp from 23.92% to 25.8%. Despite this, Occidental's stock has remained range-bound. The market is now focused on Occidental's Q3 earnings report, with analysts expecting a quarter-on-quarter EPS improvement due to favorable oil price trends. The company's robust stock buyback program and recovering dividend yield are also seen as positives. Analysts have recently raised their price targets for Occidental, with a consensus price target of $64.50.
November 07, 2023 | 3:31 pm
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NEUTRAL IMPACT
Berkshire Hathaway has increased its stake in Occidental Petroleum from 23.92% to 25.8%. Despite this, Occidental's stock has remained range-bound.
Berkshire Hathaway's increased stake in Occidental Petroleum has not had the expected positive impact on the stock price. The market is now focused on Occidental's Q3 earnings report.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 75
NEUTRAL IMPACT
Occidental Petroleum's stock has remained range-bound despite Berkshire Hathaway increasing its stake. The market is now focused on the company's Q3 earnings report.
The increase in Berkshire Hathaway's stake in Occidental Petroleum has not had the expected positive impact on the stock price. The market is now focused on the company's Q3 earnings report, with expectations of a quarter-on-quarter EPS improvement. The company's robust stock buyback program and recovering dividend yield are also seen as positives.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100