Buffett Reports a $153 Million OXY Purchase

JC Parets
June 10, 2024

From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider buy on today's list comes via a Form 4 filing by Warren Buffett and Berkshire Hathaway.

Buffett and Berkshire continue to accumulate shares of Occidental Petroleum $OXY, disclosing yet another purchase, this one worth roughly $153 million.

We take a detailed look at Buffett's and Berkshire's OXY purchases and the share price reaction below.

Here’s The Hot Corner, with data through June 7, 2024:

Control Empresarial de Capitales S.A. revealed the acquisition of 200,000 shares of PBF Energy Inc $PBF, equivalent to $9,073,080.

RA Capital Management filed a 13G for Bicycle Therapeutics plc $BCYC revealing an initial stake of 5.00%.

In another Form 4, director John L. Thornton disclosed a purchase of $299,463 in Ford Motor Company $F.

Here’s the detailed history of Buffett’s and Berkshire’s OXY purchases since March 2022:

And here’s the chart of OXY:

The stock has been consolidating constructively for the past two years, coiling above our risk level of 57.50.

Just as we’ve seen so many times in the past, Buffett bought more OXY as the price broke below 60 last week:

The chart above shows when and where Buffett has purchased stock since he began building a position in 2022.

Stay tuned. We'll be back on Tuesday with more insider activity.

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All Star Charts Team

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