Warren Buffett scoops up another $1 billion in Occidental shares, bringing total stak

[NewsFeeder]

Warren Buffett scoops up another $1 billion in Occidental shares, bringing total stake to $7 billion

Berkshire Hathaway purchased an additional 18.1 million shares of Occidental Petroleum for almost $1 billion on the first three days of this week.

More @ CNBC...

 

[Bullitt]

Is this value or momentum investing? He's had years to pick these up at much lower valuations, particularly all of 2020 and most of 2021.

 

[tsptalk]

Yeah, he's buying near the highs?

 

[FAAM]

Wow. Thx for pointing this out. Bought a few shares of OXY in mid-to-late FEB with my modest Robinhood funds & a couple more on the way up in MAR. I'm up over 36% on it in total after today - just on a whim & rough evaluation of the charts initially. Now to move up my stop-loss settings for it. Wish all our buys would go like that.
... Oh too, about 18% of my RH is invested in BRK.B for about the last 6-months & up 26%+. Hope W. B. stays healthy; and a different but similar long term managed fund with a younger GOAT is Markel (MKL) where 14% of my RH is invested since mid-JAN '22 and up over 13% with it - FYI.

 

[Bullitt]

Who knows what Berkshire's intentions are. Maybe they're going to try to move OXY in a different direction like other funds have done at other gas/oil companies. Now that Icahn is out of the way, it could be easier to push an agenda.

Berkshire did loan OXY $10B to overbid on Anardarko in 2019. I'm not sure of all the details nor would I completely understand them, but he has been getting preferred stock dividends since the 2019 loan so this could just be "reinvesting" dividends.