Could Buying Occidental Petroleum Stock Today Set You Up for Life?
Most investors dream of buying one stock that provides them with life-changing returns. A few stocks have set their investors up for life. For example, a $1,000 investment in Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) 45 years ago would be worth a staggering $2.7 million today. That's life-changing money for most people. A key to Buffett's success in turning Berkshire into a wealth-creating machine has been investing in wonderful companies at fair prices. One stock Buffett and his team love is Occidental Petroleum (NYSE: OXY). Here's a look at whether the oil stock can follow in Berkshire's footsteps and set its investors up for life.Occidental Petroleum is one of Berkshire's top holdings. Buffett's company owns nearly 265 million shares of the oil giant, or a full 28.2% of its outstanding shares, worth $10.5 billion. That's its sixth largest holding, at 4% of its investment portfolio. Continue reading
Most investors dream of buying one stock that provides them with life-changing returns. A few stocks have set their investors up for life. For example, a $1,000 investment in Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) 45 years ago would be worth a staggering $2.7 million today. That's life-changing money for most people.
A key to Buffett's success in turning Berkshire into a wealth-creating machine has been investing in wonderful companies at fair prices. One stock Buffett and his team love is Occidental Petroleum (NYSE: OXY). Here's a look at whether the oil stock can follow in Berkshire's footsteps and set its investors up for life.
Occidental Petroleum is one of Berkshire's top holdings. Buffett's company owns nearly 265 million shares of the oil giant, or a full 28.2% of its outstanding shares, worth $10.5 billion. That's its sixth largest holding, at 4% of its investment portfolio.
