5 Best Crude Oil Stocks To Buy As Tensions Rise

2. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 71

Occidental Petroleum Corporation (NYSE:OXY) is an American oil and gas company headquartered in Texas. It is another one of the high-growth energy stocks that Warren Buffet loves. 

In the fourth quarter, Berkshire Hathaway owned 194.35 million shares of Occidental Petroleum Corporation (NYSE:OXY) worth $12.24 billion. Moreover, after gaining approval from the Federal Energy Regulatory Commission in August 2022 to buy up to 50% of the company stock, Berkshire Hathaway is loading up on it. During late February and early March, the firm bought 5.8 million additional Occidental Petroleum Corporation (NYSE:OXY)’s shares worth $355 million.

On February 27, Occidental Petroleum Corporation (NYSE:OXY) announced a quarterly dividend increase of 38.5% to $0.18 payable by April 17 to the shareholders of record on March 10. In addition, the company also announced its new $3 billion share repurchase program on the same day.

According to our database, 71 hedge funds had a stake in Occidental Petroleum Corporation (NYSE:OXY) in the fourth quarter of 2022 compared to 74 in the previous quarter.

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