Over 1 Year Ago
1 Min Read
OXY shares increased 10% on Friday. Buffet gets approval to buy 50% of the company.
Occidental Petroleum Corp (OXY) is trading 10% higher at $71.29 today. While it's generally been a mildly red day for this part of the market, the company is surpassing it's peers in the Energy sector.
On Friday, it was announced that Berkshire Hathaway, owned by Warren Buffett, had been approved by U.S. regulators to buy up to 50% of Occidental Petroleum. This led to speculation that Buffett may eventually acquire the entire company.
There was unusually high options trading for Occidental Petroleum on Friday, with 288,518 call options being acquired. This is a 117% increase compared to the average volume of 132,944 call options.
Occidental Petroleum Corp has been trading between a 52-week high of $73.9 and a 52-week low of $22.69. The stock has a market cap of $66.8 Billion.
Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. It is one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
rxn777 - 6 upvotes - source
Probably OXY
BEDBATHBAGHOLDER - 5 upvotes - source
Bought OXY Friday n keeping an eye on bbby next week also!
alumpenperletariot - 5 upvotes - source
The only thing I’m getting into right now is OXY. Wait and see what happens with other stocks
zzerdzz - 4 upvotes - source
I’m going long on oxy, it’s gonna break $100 by end of year. It’s gonna be a cold one
applebeelievemebro - 2 upvotes - source
I don't need the stock to moon on oxy bro.
TowelieTrades - 2 upvotes - source
Can’t go wrong with $VICI $OXY $AAPL $CME $ABBV
Powerful-Ad-4417 - 1 upvotes - source
I got out of OXY, made back on what I lost on BBBY. Won't touch it again
Traditional_Quail997 - 0 upvotes - source
OXY is about to go way up next week imo!
On Friday, it was announced that Berkshire Hathaway, owned by Warren Buffett, had been approved by U.S. regulators to buy up to 50% of Occidental Petroleum. This led to speculation that Buffett may eventually acquire the entire company.
There was unusually high options trading for Occidental Petroleum on Friday, with 288,518 call options being acquired. This is a 117% increase compared to the average volume of 132,944 call options.
Occidental Petroleum Corp has been trading between a 52-week high of $73.9 and a 52-week low of $22.69. The stock has a market cap of $66.8 Billion.
Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. It is one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
rxn777 - 6 upvotes - source
Probably OXY
BEDBATHBAGHOLDER - 5 upvotes - source
Bought OXY Friday n keeping an eye on bbby next week also!
alumpenperletariot - 5 upvotes - source
The only thing I’m getting into right now is OXY. Wait and see what happens with other stocks
zzerdzz - 4 upvotes - source
I’m going long on oxy, it’s gonna break $100 by end of year. It’s gonna be a cold one
applebeelievemebro - 2 upvotes - source
I don't need the stock to moon on oxy bro.
TowelieTrades - 2 upvotes - source
Can’t go wrong with $VICI $OXY $AAPL $CME $ABBV
Powerful-Ad-4417 - 1 upvotes - source
I got out of OXY, made back on what I lost on BBBY. Won't touch it again
Traditional_Quail997 - 0 upvotes - source
OXY is about to go way up next week imo!
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