Berkshire Hathaway Buys Occidental Petroleum

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Berkshire Hathaway

The Motley Fool

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Warren Buffett Is Ending 2024 With Even More of This Energy Stock. Should You Buy It Before 2025?

Summary

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77% Informative

Last week , Berkshire Hathaway expanded an already-massive Occidental Petroleum holding that hadn't been touched in months .

With last week's acquisition of another 8.9 million shares, Berkshire now owns over 260 million shares of the energy company.

Oil and gas are far from being on their deathbeds, and oil demand is likely to continue growing before peaking at 110 million barrels per day in 2035 .

Few companies stand as ready as this one does to capitalize on the annualized growth pace of 22% that Precedence Research expects from the carbon-capture industry between now and 2033 .

Warren Buffett likes the idea of buying more shares of a stock he already owns plenty of despite being in a market that offers few attractive investment options.

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