Altria, Philip Morris Sign Manufacturing Pact
Altria and Philip Morris International enter a contract manufacturing deal to strengthen operating capabilities.
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What's Going on With Occidental Petroleum Stock Monday?
Occidental Petroleum reports Q2 updates, netting $96.78/bbl worldwide average oil prices ahead of its Aug 5 earnings catalyst.
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Berkshire Hathaway acquired Occidental Petroleum's chemicals business for $9.7 billion in late 2025. Occidental used $6.5 billion of proceeds to pay down debt, allowing it to focus on upstream oil and gas production as energy prices rise. The article argues both companies are winners: Occidental achieved its goal of debt reduction and operational focus, while Berkshire added a reliable chemicals business to its diversified portfolio with a long-term investment horizon.
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Occidental Petroleum shares are trading higher after Goldman Sachs upgraded its rating on the stock from Neutral to Buy and raised its price target from $63 to $69.
Goldman Sachs Upgrades Occidental Petroleum to Buy, Raises Price Target to $69