• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 days Does Toyota Know Something That We Don’t?
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 hours America should go after China but it should be done in a wise way.
  • 6 days China is using Chinese Names of Cities on their Border with Russia.
  • 7 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 7 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 7 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 6 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 7 days Putin and Xi Bet on the Global South
  • 7 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 8 days United States LNG Exports Reach Third Place
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
The Race for Natural Hydrogen Is Heating Up

The Race for Natural Hydrogen Is Heating Up

Natural hydrogen presents a promising…

Editorial Dept

Editorial Dept

More Info

Premium Content

A Look At Warren Buffett’s Favorite Oil Stock

It is no secret that Warren Buffet, or more accurately his holding company, Berkshire Hathaway (BRKA: BRKB), has been amassing a significant stake in Occidental Petroleum (OXY). Their stake is big enough to be subject to disclosure requirements, so it is public knowledge that they now own around a quarter of the company. Buffet has said, though, that they are not going to take outright control of OXY. That suggests that a major impetus for the stock’s rise is about to go away, but that doesn’t mean that those who hold it should sell, nor that it isn’t worth buying at current levels.

Buffets’ reason for not pursuing a controlling stake speaks volumes. He believes, he says, in the company’s current management, which is, in part, why he has been buying. He sees no need to take over completely and make changes. As much as it can be when you own 25% of a company’s stock, this is a passive investment. That is a part of the overall strategy that Buffet has been using for years, a strategy that has made him a billionaire.

He has said many times that there is no magic or secret sauce behind his success, nor does he believe he is just smarter than everyone else. What he does, as he frequently tells us, is buy stock in well run companies with a time horizon measured in decades, then rides out market fluctuations, occasionally trimming positions at times of strength, then buying back on significant drops. That isn’t a revolutionary…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News