Why Occidental Petroleum Jumped Nearly 26% Higher in May

Motley Fool2022-06-04

What happenedShares of U.S. energy giant Occidental Petroleum increased 25.8% in May 2022, according to data from S&P Global Market Intelligence. As of June 3, the stock is now up over 140% so far in ...

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Comments

Wil17
2022-06-06
Wil17
Wah
WifeWhyWhy
2022-06-06
WifeWhyWhy
Ok
InvisibleP
2022-06-05
InvisibleP
Ok
HermioneG
2022-06-04
HermioneG
Awesome!
Gackky
2022-06-04
Gackky
because it jumped
Bodoh
2022-06-04
Bodoh
good reason

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484

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As of June 3, the stock is now up over 140% so far in ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/03/why-occidental-petroleum-jumped-nearly-26-higher-i/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OXY","symbol_name":"西方石油","start_time":0,"source_url":"https://www.fool.com/investing/2022/06/03/why-occidental-petroleum-jumped-nearly-26-higher-i/","article_id":"2240277145","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2240277145","pubTimestamp":1654306051,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"A big and famous shareholder took on an even bigger stake in the energy giant.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"OXY":"西方石油"},"translate_title":"为什么西方石油在5月份上涨了近26%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OXY":1},"content_text":"What happenedShares of U.S. energy giant Occidental Petroleum increased 25.8% in May 2022, according to data from S&P Global Market Intelligence. 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Though still a small piece of the whole Berkshire stock portfolio pie, OXY is now a more than $10 billion position for Buffett and company, or over 15% of Occidental's total market cap.As a reminder, Berkshire first got involved with Occidental back in 2019 when the energy major was bidding against Chevron  for the privilege of acquiring energy exploration company Anadarko. Occidental's winning bid was a very high premium of $55 billion. To pay the bill, funding was secured from Berkshire, yielding Buffett's investment conglomerate preferred stock (which pays a high-yield dividend) and warrants to purchase more common stock at a favorable price.Fast forward to 2022 -- Berkshire is exercising those rights and being rewarded handsomely.Now whatTo be sure, Occidental can still be viewed as a higher-risk integrated oil play. It carries a large burden of long-term debt totaling $25.7 billion -- even after repaying nearly $3.3 billion worth of that debt in Q1 2022. 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