1. Warren Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum to over 28% in December; 2. The company is focused on deleveraging its balance sheet and maintaining high free cash flow profitability; 3. Occidental Petroleum's valuation is attractive with a forward P/E ratio of 12.5X, offering up to 20% upside potential based on FY 2026 earnings estimates.