近两年来，西方石油股价的下跌经常引发巴菲特的大举买入，包括他在今年6月以59.86美元至59.75美元的价格买入256万股西方石油股票，以及在去年12月西方石油股价因CrownRock交易中收购的债务而下跌后，巴菲特买入了近5.9亿美元的股票。As of the Wednesday's closing, the stock price of the U.S. petroleum producer Occidental Petroleum fell to $56.02, below the level at which its largest shareholder, billionaire investor Buffett of Berkshire Hathaway, usually buys in. However, this time, Buffett has not bought the stock yet.
According to the Securities Times app, as of the Wednesday's closing, the stock price of the U.S. petroleum producer Occidental Petroleum (OXY.US) fell to $56.02, below the level at which its largest shareholder, billionaire investor Buffett of Berkshire Hathaway (BRK.A.US), usually buys in. However, this time, Buffett has not bought the stock yet.
In the past, Buffett's timing of buying millions of shares of Occidental Petroleum stock has usually been when the company's stock price falls below $60; Wall Street analysts refer to this as the 'Berkshire put option,' setting a price floor for Occidental Petroleum's stock.
Over the past two years, the decline in Occidental Petroleum's stock price has often prompted Buffett to make large purchases, including buying 2.56 million shares of Occidental Petroleum stock in June this year at prices ranging from $59.86 to $59.75, and nearly $590 million worth of stock in December last year after the decline in Occidental Petroleum's stock price due to debt acquired in the CrownRock transaction.
In addition to common stocks, Berkshire also owns warrants to purchase 83.5 million shares of Occidental Petroleum stock at a price of $59.62 per share, and holds preferred shares of the company.
However, Occidental Petroleum's stock has been below this price in August, marking the longest period of decline since January. In early February of this year, Berkshire purchased 4.3 million shares of the company's stock, ending the decline in January.
CrownRock investors faced pressure after acquiring 29.6 million Occidental Petroleum shares for $12 billion to purchase the US oil company earlier this month.
Analysts said Buffett did not buy more shares this time, which may reflect the billionaire investor's decision not to increase his holdings in the company by nearly 30%. Berkshire Hathaway is Occidental Petroleum's largest shareholder, holding shares worth $16.1 billion and has received approval from US regulators to purchase up to 50% of the company.
Spokespeople for Berkshire Hathaway and Occidental Petroleum did not respond to requests for comments.
In the past 52 weeks, Occidental Petroleum's stock price has dropped by 12.3%, while the Energy Select Sector SPDR Fund (XLE.US) tracking the entire energy industry has performed averagely.