Buffett’sinterest in Occidental shown in Berkshire’s 13F filings.
On Aug19, Berkshire Hathaway, a corporation owned by Warren Buffett, won regulatory approval from the Federal Energy Regulatory Commission (FERC) to buy up to 50% of oil giant Occidental Petroleum’s common stock .
This recent regulatory approvalhas increased speculation that Berkshire is about to buy Occidental. Shares of Occidental jumped 10% on the news to close at $71.29 apiece, pushing the company’s market value to around $66 billion.
The story between Buffet and Occidental dates back to as early as several months ago. Since March this year, Buffet has been steadily adding his stakes in Occidental.
His affection for the company is clearly demonstrated in the 13F filings published by Berkshire twice this year.
In Q1, Apple, Bank of America, American Express, Kraft Heinz, and Coca-Cola were among Berkshire’s five biggest stock holdings. Meanwhile, Berkshire bought an additional 5,887,618 shares of Occidental, with holdings in the oil industry worth over $40 billion.
If you wish to check out more on institutional holdings, try 「Institutional Tracking」. Tap 「Quotes」 on the bottom navigation bar, then tap 「Explore」 on the top and swipe down, and there it is.
(08/30/2022)
Tap the pic to access Institutional Tracking (on app) directly
Institutional Tracking intuitively displays position details of institutions via charts, providing key data of industries, market value, position changes, etc. For more details, click the link below:(earn up to 300 points)
Gain Insights into Smart Money with Institutional Tracking
Back to Occidental Petroleum, it does live up to Buffet’s expectations. Since the beginning of this year, its revenue, driven by the booming crude oil market and Buffet’s operations, has surged by 129%. The earnings report(Occidental Petroleum(OXY) Financial Reports - Data and Analysis - Moomoo)shows that its net sales volume has reached $10.676 billion with a net profit of $3.755 billion, a year-on-year increase of 36 times, 16% higher than what analysts have expected. At the end of Q2, the cash flow generated by its operations stood at $5.329 billion, a record high among all quarters.
Will Occidental finally be part of Buffet’s commercial empire? Let’s wait and see!
Disclaimer:
This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC). In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS).Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore. In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.
