Buffett’s Preferred Energy Stock Predicted to Suffer 47% Profit Drop Amid Falling Oil Prices

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Warren Buffett-backed Occidental Petroleum (OXY) is set to report its first-quarter earnings and revenue late Tuesday, with analysts predicting a significant drop in EPS due to lower oil and natural gas prices.
OXY shares saw a slight increase early Monday, despite the anticipated decrease in earnings.
Buffett’s Berkshire Hathaway holds a 28.2% stake in Occidental Petroleum, making it one of his top holdings.

Occidental Petroleum, backed by Warren Buffett, is set to report its Q1 earnings. Analysts predict a drop in EPS due to lower oil and natural gas prices, but shares saw an early Monday increase.

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Anticipated Decrease in Q1 Earnings

Analysts expect first-quarter EPS to fall from 47% to 58 cents with sales totaling $6.7 billion, down 7% c... Read the full article for FREE at COINOTAG!