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Barchart
Barchart
Tony Daltorio

1 Energy Stock BlackRock and Buffett Are Both Betting On

BlackRock Warren Buffett Occidental OXY Vicki Hollub Occidental Petroleum Oil Petroleum

Occidental Petroleum (OXY) is probably best-known by investors as the oil company where legendary investor Warren Buffett owns a stake in excess of 25%.

Buffett’s company, Berkshire Hathaway (BRK.B) also owns about $9.5 billion of Occidental preferred stock carrying an 8% dividend, plus warrants to buy another $5 billion of Occidental shares at $59.62 each. Berkshire bought the preferred stock and obtained the warrants in 2019, when it helped finance Occidental's purchase of Anadarko Petroleum.

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