Warren Buffett Is Ending 2024 With Even More of This Energy Stock. Should You Buy It Before 2025?
Just when it looks like Warren Buffett is done adding a position in a particular company, you learn he isn’t. Last week, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) expanded an already-massive Occidental Petroleum (NYSE: OXY) holding that hadn’t been touched in months, capitalizing on the stock’s 35% pullback from April’s peak that more or less aligns with crude oil’s price action for the same time frame.
Should you take the Oracle of Omaha’s lead and scoop up some of these discounted shares of the energy company for yourself? Keep reading.
With last week’s acquisition of another 8.9 million shares, Berkshire now owns over 260 million shares of Occidental Petroleum. They’re collectively worth over $12 billion, making it the conglomerate’s sixth-biggest stock holding.
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