Occidental Petroleum ($OXY) Trades Below Berkshire Hathaway's Purchase Prices Amid Rumors of $AAPL Sales in 2nd Quarter

Occidental Petroleum (ticker: $OXY) has recently drawn attention as its stock trades below the prices at which Berkshire Hathaway made its latest purchases. This development places Occidental in what some are referring to as the 'Warren Buffett zone.' Reports suggest that Berkshire Hathaway may have sold a significant amount of Apple shares in the second quarter, potentially reallocating those funds into Occidental. Analysts note that the stock is nearing a critical support level in the mid-$50s, which has historically been significant for the company. The context of a potential recession and ongoing geopolitical risks in the Middle East may further influence oil prices, with some experts suggesting that oil typically rises during recessionary periods.