Occidental Petroleum Eases Permian Basin Focus As Warren Buffett Buys More Shares

News Snapshot:

Warren Buffett-backed Occidental Petroleum (OXY) reported a stronger-than-expected fourth-quarter performance late Wednesday. Shares inched higher in premarket trade. X Occidental Petroleum saw fourth-quarter earnings fall 54% to 74 cents per share, slightly better than FactSet consensus of 71 cents. Revenue dipped 12.7% to $7.172 billion. Analysts had predicted sales totaling $6.95 billion, according to FactSet. Occidental Petroleum stock shed 0.5% Wednesday, ahead of earnings. In Thursday's premarket action, shares edged a fraction higher. OXY stock has slumped below its 200-day and 50-day moving averages to begin 2024, after climbing to nearly 67 in October 2023. U.S. oil prices eased slightly...