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Nov 12, 2025 4:10 PM

JPMorgan Raises Forecast On This Warren Buffett Favorite Oil Stock

JP Morgan analyst Arun Jayaram raised the price forecast on Occidental Petroleum Corp. (NYSE:OXY) following its third-quarter FY25 earnings beat.

The company reported adjusted EPS of 64 cents, surpassing the street view of 52 cents, and sales of $6.72 billion slightly came above the consensus of $6.68 billion.

Total average global production in the quarter surpassed the upper end of guidance, reaching 1,465 thousand barrels of oil equivalent per day (Mboed).

Berkshire Hathaway’s (NYSE:BRK) (NYSE:BRK) latest disclosures show that it owned nearly 265 million shares of Occidental Petroleum at the end of Q2, giving Warren Buffett a roughly 27% stake in the company.

Also Read: Occidental Petroleum Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Average production in the Permian basin ...