Warren Buffett’s bet on this oil stock is finally paying off; Time to buy?

Warren Buffett’s bet on Occidental Petroleum (NYSE: OXY ) is seemingly paying off, with the stock rising over 50% in the past year. Notably, OXY shares reached a 52-week high of $67.45 on March 31 before retreating and recovering, settling at $62 as of press time, up 52% over the past year. Occidental’s recovery reflects improving fundamentals and higher oil prices amid US-Iran tensions and concerns about disruptions to crude shipments through the Strait of Hormuz. Its average realized crude oil price rose 32.6% year over year in the third quarter. Berkshire’s Hathaway’s (NYSE: BRK.A , BRK.B ) investment gives it exposure to Occidental’s production assets and cash flows.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Finbold.