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New Buffett buy alert: bought $OXY 🛢️

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New Buffett buy alert: bought $OXY 🛢️

He now owns 25.2% of Occidental Petroleum

Jun 29, 2023
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New Buffett buy alert: bought $OXY 🛢️

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*Apologies for us being a bit quiet over the last month. Our two writers have been traveling for an early Summer vacation. We will get back to our regularly posting schedule soon :)

Warren Buffett continues to be bullish on oil giant Occidental Petroleum. over the last three days, he disclosed purchasing another 12,000,000 shares for a price of ~$51/share . This is his first disclosure since last quarters filings.

This seems in line with what the market thought he’d do. Remember back in August where Berkshire received regulatory approval to buy up to 50% of OXY 0.00%↑ ? Well since that approval he’s bought 3 separate times and appears to be half way towards that 50% mark.

Official Trade:

Stock: Occidental Petroleum
Action: Buy
Amount: 12,000,000 shares

New Portfolio Allocation: 5.5%

What is $OXY? 

OXY is a diversified oil and gas operator with assets across all major energy-producing nations of the world. Assets include an E&P business, a chemicals business, and a midstream business.

In December, we wrote up a piece on why he began purchasing the oil company (which you can read here:

Trade Trackers by Autopilot
Here's Why Warren Buffett Loves Oil Giant Occidental Petroleum
Warren Buffett has been purchasing Occidental Petroleum in the open market throughout 2022. We expect him to continue buying more. In fact, Buffett could buy out the entire company over the next few years. Here's why Buffett loves Let’s dig in… 👇👇👇…
Read more
a year ago · 6 likes · Autopilot

Because of this latest purchase, oil being at 2 year lows, and a potential “buy the dip” opportunity, our team will write up an updated stock analysis on OXY 0.00%↑ and will share with our premium subscribers early next week. Feel free to try out a 7 day free trial at the link here:

Try a 7 day free trial here

Take care & Happy Friday!

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New Buffett buy alert: bought $OXY 🛢️

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New Buffett buy alert: bought $OXY 🛢️

www.autopilottracker.com
Stephen
Jul 9

Hi, I dont get how he can buy these shares at an average of US$51 per share since his last quarters disclosure filings when the share price has not touched that low. It was last at US$51 in Apr22. Can you explain how this is done?

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