Occidental Petroleum stock adds 2% as Buffett buys more shares

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The average share price for this transaction was $56.16, which was 1.9% below the closing price on the reported day of $57.22.

The stock rose 2.2% on the news.

“We expect OXY to have a slightly positive reaction vs. peers” on Thursday, analysts at Roth MKM said in a note.

“We rate Occidental Petroleum Neutral due to its more levered balance sheet, the potential peak of chemicals earnings in 2022, its lower long-term production growth rate vs. peers and we don’t think Buffett buys the entire company.”