$BTC ๐จ ๐๐๐ซ๐ซ๐๐ง ๐๐ฎ๐๐๐๐ญ๐ญ'๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐ข๐๐๐ง๐ญ๐๐ฅ ๐๐๐ญ๐ซ๐จ๐ฅ๐๐ฎ๐ฆ ๐๐จ๐ซ๐ฉ
Overview of the Recent Transaction
On June 7, 2024, Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway made a significant addition to its investment portfolio by acquiring 2,565,477 shares of Occidental Petroleum Corp (NYSE:OXY). This transaction, executed at a price of $59.75 per share, not only underscores the firm's confidence in OXY but also impacts its portfolio with a 0.05% increase, bringing its total holdings in the company to 250,583,605 shares. This move further solidifies Berkshire Hathaway's position as a major stakeholder in the oil and gas sector.
Details of the Trade
The recent purchase increases Berkshire Hathaway's stake in Occidental Petroleum to 28.26% of its portfolio, emphasizing its strategic importance. With a total investment position of 4.51%, this acquisition not only reflects Buffett's bullish outlook on the oil and gas industry but also aligns with his investment criteria of understanding the business, favorable long-term prospects, and competent management.
Stock Performance and Valuation
Currently, Occidental Petroleum's stock is modestly overvalued with a GF Value of $53.59 and a price-to-GF Value ratio of 1.11. Despite a slight year-to-date price decline of 0.39%, the stock has shown a significant increase of 932.64% since its IPO. The GF Score of 79 indicates a likely average performance in the future, supported by a strong momentum rank of 10/10.
Reference from Yahoo finance
