Keep an eye on Occidental Petroleum (OXY).

Warren Buffett is still aggressively buying the oversold stock.

In fact, his firm – Berkshire Hathaway just bought another 3.7 million shares for $218 million. That means the firm now owns $12.6 billion worth of OXY.

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Also, according to Barron’s, “In addition to the equity holding, Berkshire owns nearly 84 million warrants to buy Occidental stock that can be exercised at just under $60 a share and $10 billion worth of Occidental preferred stock paying an 8% dividend rate.”

Even better, Cowen analysts just upgraded the OXY stock to outperform from market perform, with a price target of $70 a share. Barclays analyst Jeanine Wai also raised the firm’s price target on Occidental Petroleum to $78 from $70, with an Overweight rating. Mizuho also raised the firm’s price target on Occidental Petroleum to $83 from $82, with a buy rating. 

Sincerely,

Ian Cooper