Will Warren Buffett Buy Occidental Petroleum?

JC Parets
July 5, 2022

Today's most significant insider transaction report is another Form 4 filing by Warren Buffett's Berkshire Hathaway $BRK.A.

Buffet continues to build his position in Occidental Petroleum $OXY, as he disclosed an additional purchase of roughly $582 million.

The "Oracle of Omaha" also owns derivatives that give him the option to buy an additional 84 million OXY shares. If exercised, he could own more than 25% of the company.

At this rate, we wouldn’t be surprised if he owned 100% of it soon.

John Rogers, a director of Nike $NKE, reported a purchase of 10,000 shares, equivalent to $1,029,650 worth of his company's stock.

Here’s The Hot List, with data through July 1, 2022:

Massachusetts Financial Services Company filed a 13G revealing an ownership stake of 11% in TaskUs $TASK.

In the options market, there was bullish flow in the Chinese internet retail Pinduoduo $PDD and the social media app Twitter $TWTR.

There was also bullish activity in the popular exploration and production stock Transocean $RIG. Traders were looking all the way out to October with out-of-the money calls.

And there was bearish flow in the American multinational automaker Ford $F.

Stay tuned. We'll be back Wednesday with more insider action.

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All Star Charts Team

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