Opinions
Stephen Weiss, Founder, Short Hills Capital Partners
Occidental Petroleum Corp
OXY-N
TRADE
Sep 29, 2023
$65.130
Stock price when the opinion was issued
integrated oils
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BUY
Things were dicey for them in 2019 when they borrowed a lot of money to buy a company, then crude oil plummeted in April 2020 and so did OXY. But OXY is incredibly sensitive to oil prices, falling further when crude oil falls, but rallying higher when crude rises. Therefore, it's gone from fighting for survival to printing money. Who knows? Maybe Berkshire Hathaway will buy all of OXY, since BH keeps buying more shares of it. OXY is still good if crude oil holds at this price.
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BUY
BRK.A boosting its stake.
Likes it. Encouraging. Warren Buffett, one of the shrewdest, most patient investors of all time, is stepping up in the face of widespread negative sentiment. The most uncomfortable buys are usually the best ones. Don't chase the herd and buy NVDA. Be patient and tune out the noise.
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TOP PICK
It is very cheap. It tracks the price of crude pretty well and is still trading below when crude was at its lows a couple of years ago. He think oil is going to $85. It is an undervalued oil trade so he would consider options. Pays a nice dividend. Buy 8 Hold 19 Sell 1
(Analysts’ price target is $67.69)
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He bought this late. Bought it because one of the greatest investors, Buffett, in the world bought it. Energy is a tough sector; expects the momentum will eventually turn and oil falls to the $80s.