Buffett and Berkshire Are Into OXY With Another $105 Million

JC Parets
June 13, 2024

From the Desk of Steve Strazza and Alfonso Depablos

Warren Buffett, Berkshire Hathaway, and Occidental Petroleum $OXY take the spotlight again today.

Buffett and Berkshire continue to accumulate shares of OXY, this time disclosing a purchase worth roughly $105 million.

We discussed their $153 million OXY buy on Monday.

Here’s the OXY chart, with the Buffett-Berkshire purchases highlighted:

Here’s The Hot Corner, with data through June 12, 2024:

The CEOs of Pebblebrook Hotel Trust $PEB and BlackLine Inc $BL both revealed purchases of their own stock.

And tech investor and venture capitalist Jay Hoag revealed a $99 million purchase of Zillow Group Inc $Z, where he serves as a board member.

A monster purchase like this puts Z on our Screamin’ Hot radar, so we’ll be monitoring the stock closely for evidence of a trend reversal.

Z has been in the base-building process for roughly two and a half years as price continues to stabilize following the 86% drawdown that began in February 2021:

The bulls still have work to do to complete this reversal pattern.

Our line in the sand is those pivot highs around 58.

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

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All Star Charts Team

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