Berkshire Hathaway’s profit declines due to reduced insurance earnings and Occidental write-down
Berkshire Hathaway Reports Lower Fourth-Quarter Profits Berkshire Hathaway announced on Saturday that its operating profit for the fourth quarter saw a decline, largely due to reduced revenue from its insurance sector and the decision to write off its long-standing investment in Occidental Petroleum. This marks Warren Buffett’s final quarter in the CEO role, with Greg […]
Occidental Petroleum sells OxyChem to Berkshire Hathaway for $9.7 billion
Occidental Petroleum has decided to sell its chemical division, Oxychem, to Warren Buffett’s Berkshire Hathaway for a whopping $9.7 billion. Interestingly, shares of U.S. oil and gas producers dropped over 6% during morning trading. According to analysts from Roth MKM, the sale of Oxychem might hinder free cash flow growth in the coming years, as […]
1 Stock to Buy, 1 Stock to Sell This Week: Shopify, Occidental Petroleum – Yahoo Finance
• CPI inflation, retail sales, producer prices, and other earnings will be in focus this week. • Shopify stands out as a buy, especially with the holidays approaching. • Occidental Petroleum Co. is in a difficult situation and should be approached with caution. • Looking for more practical trading ideas? Get access to InvestingPro for […]
Berkshire Hathaway Scoops Up More Occidental Stock, Boosts Stake to 34% – Barron's
Occidental Petroleum's stock price has been under pressure recently, and Berkshire Hathaway maintains a large holding in the energy company, according to a filing late Wednesday. Berkshire Hathaway's stock position remains unchanged at 27.7% of Occidental. Occidental stock closed 1.2% lower at $56.80 on Wednesday, its lowest closing price. Occidental Petroleum's stock price has been […]