Oxy's $12 Billion Acquisition: Is Warren Buffett's Second-Favorite Oil Stock a Buy?

By Jason Hall and Tyler Crowe – Dec 17, 2023 at 5:14AM

NYSE: OXY

Occidental Petroleum

Market Cap

$60B

Today's Change

(-0.15%) -$0.10

Current Price

$67.78

Price as of April 26, 2024, 4:00 p.m. ET

Is Oxy counting too much on higher oil prices to make this deal work out?

Occidental Petroleum (OXY -0.15%) recently agreed to a $12 billion deal to buy privately owned CrownRock. Soon after the deal, Berkshire Hathaway (BRK.A -0.76%) (BRK.B -0.69%) disclosed multiple Oxy stock buys, expanding its already-sizable ownership in the company. But is it really a good deal? In this video, Motley Fool contributors Jason Hall and Tyler Crowe break things down.

*Stock prices used were from the afternoon of Dec. 13, 2023. The video was published on Dec. 16, 2023.

Jason Hall has positions in Berkshire Hathaway. Tyler Crowe has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.