Investors may want to consider Occidental Petroleum (OXY).
At the moment, the stock is consolidating around $56.65, but could soon see higher highs. All on news Berkshire Hathaway just bought another $250 million worth of OXY stock between July 11, and 13, 2022. OXY also carries a dividend yield of 0.92%.
“Some analysts have speculated that Berkshire could buy all of the Houston-based company, which has been reducing debt since acquiring Anadarko Petroleum Corp for $35.7 billion in 2019,” as noted by Reuters.
Plus, as noted by TheFly.com: Barclays analyst Jeanine Wai raised the firm’s price target on Occidental Petroleum to $84 from $74 and keeps an Overweight rating on the shares. The analyst remains constructive on oil and exploration and production stocks following Barclays’ updated oil price forecast, which is $11 and $23 higher in 2022 and 2023, respectively. Wai raised price targets by 18% on average and sees “healthy upside and compelling yield despite secular headwinds.”