Buffett is just one step away from skyrocketing to the Moon 🚀
Warren Buffett's Berkshire Hathaway just snapped up more Occidental Petroleum shares, pushing the legendary investor's stake in the oil company to just over 25%.
Buffett's conglomerate purchased another 2.1 million shares of Occidental in the past week when the stock traded at $57.89, an amount worth $123 million in total, according to a recent Securities and Exchange Commission filing.
Berkshire now owns 224 million shares of the oil producer worth $13 billion. That represents just over quarter of Occidental's entire value, with a total market cap of $52.56 billion.
Buffett has been vocal about his bullishness on Occidental Petroleum, snapping up big chunks of the stock over the past year as oil and natural gas prices skyrocketed in the aftermath of Russia - Ukraine tensions.
And though Buffett has said he has no interest in taking over Occidental, Berkshire gained approval from regulators to potentially own up to 50% of the company last August.
Energy prices, meanwhile, have eased from their highs last summer, but analysts have said prices are in for another surge later in the year, especially if China's economic reopening leads to a big upswing in oil demand.
Moreover El Niño is here. Commodity prices could swing in turmoil.
Buffett's conglomerate purchased another 2.1 million shares of Occidental in the past week when the stock traded at $57.89, an amount worth $123 million in total, according to a recent Securities and Exchange Commission filing.
Berkshire now owns 224 million shares of the oil producer worth $13 billion. That represents just over quarter of Occidental's entire value, with a total market cap of $52.56 billion.
Buffett has been vocal about his bullishness on Occidental Petroleum, snapping up big chunks of the stock over the past year as oil and natural gas prices skyrocketed in the aftermath of Russia - Ukraine tensions.
And though Buffett has said he has no interest in taking over Occidental, Berkshire gained approval from regulators to potentially own up to 50% of the company last August.
Energy prices, meanwhile, have eased from their highs last summer, but analysts have said prices are in for another surge later in the year, especially if China's economic reopening leads to a big upswing in oil demand.
Moreover El Niño is here. Commodity prices could swing in turmoil.
Trade active:
July 20, 2023
Run, Warren! RUN..! 🚀 🚀
Run, Warren! RUN..! 🚀 🚀
Trade active:
July 24, 2023
Run, Warren! RUN..! 🚀 🚀🚀
Run, Warren! RUN..! 🚀 🚀🚀
Trade active:
Aug 7, 2023
NEW ALL TIME HIGH! 💖
NEW ALL TIME HIGH! 💖
Trade active:
Trade active:
Jan 26, 2024
👉 Rule # 1. Stay Big.
👉 Rule # 2. Read Rule # 1, and don't be a pussy
😂
👉 Rule # 1. Stay Big.
👉 Rule # 2. Read Rule # 1, and don't be a pussy
😂
Comment:
Feb 26, 2024
Glory Monday with Warren 😀
Glory Monday with Warren 😀
👉 Berkshire Hathaway
👉 It happens with Berkshire 1st time since 2000s dot com bubble.
👉 No one of SPX, NDX, RUT and DJI did it.