If You’d Invested in Occidental Petroleum Like Warren Buffett, Here’s How Much You’d Be Worth
Written by
Adam Palasciano
Edited by
Travis Woods
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Warren Buffett, CEO and Chairman of Berkshire Hathaway, is renowned as a financial expert and he knows a thing or two about stocks — and he has a vested interest in Occidental Petroleum, for good reason.
Occidental Petroleum (OXY) specializes in the acquisition of oil and gas properties across the U.S., North Africa, and the Middle East. It focuses on these segments: Oil and Gas, Chemical, Midstream and Marketing. Here’s why you might want to consider this company for your stock portfolio just like Buffett.
Occidental Petroleum Stock Performance
Occidental Petroleum currently trades at about $60.36 per share as of Wednesday, February 28, 2024. It currently pays a 1.45% annual dividend yield (or $0.88 per share per year). The 1 year estimated target for this stock is about $66 per share. Overall, the stock has a history of long-term growth, trading at an average price of just $13.03 per share when the company had its IPO on May 22, 1986. The company clearly has upside potential for the future.
When Did Buffett First Invest in Occidental Petroleum?
Buffett first purchased 4.7 million shares of Occidental Petroleum in Q3 2019 with an average share price of $47.28.
Investor’s Business Daily highlighted that Buffett recently spent $588.7 million on more than 10 million shares of OXY between December 11-13, 2023 alone. The share prices ranged from $55.58 to just above $57.00. Currently, Berkshire Hathaway holds a 28.23% stake in Houston-based Occidental Petroleum, as reported by Stockcircle.
Here’s How Much You’d Have If You Invested at the Same Time as Buffett
Today, his company owns 248 million shares with a current holding value of $15 billion (accounting for 4.33% of his company’s portfolio). His initial $13.5 billion investment has netted him a 12% gain so far. So, if you invested at the same times as Buffett did from 2019 to the present, you’d also have 12% more wealth than before too. It’s worth taking investment advice from Buffett to grow your wealth for the future.
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