2024-06-17 09:06:51 ET
Summary
- Occidental Petroleum is embracing the green revolution for future profitability.
- Berkshire Hathaway has partnered with Occidental for lithium production.
- Occidental is focusing on growth projects and potential acquisitions for long-term success.
- A dividend yield is likely way down the priority list for the time being.
- The price-earnings ratio could indicate a stock price bottom rather than a top, as is often the case with cyclical stocks.
Occidental Petroleum ( OXY ) is heading into the green revolution in a way few expected. Management plans on making a profit while doing so as well. In the meantime, Berkshire Hathaway ( BRK.A )( BRK.B ) has picked up still more stock while agreeing to joint venture with Occidental to produce lithium. One way or another, this company is ensuring its survival and continued profitability well into the future. Carbon capture and lithium are providing unexpected growth avenues, while natural gas is the source of a lot of plastics. Management is well on its way to growing this company a lot more by including the green revolution after a very trying period for the industry....
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Occidental Petroleum Is Turning Green