In recent months, billionaire investors Warren Buffett and Carlos Slim have been making bold moves in the energy sector ($SREN), signaling a strong resurgence of interest. Legendary investor Warren Buffett's holding company Berkshire Hathaway (BRK.A) (BRK.B) poured another $434.8 million into Occidental Petroleum Corporation (OXY) through June 17, further solidifying its already huge position in the stock.
Similarly, Carlos Slim's investment company, Control Empresarial de Capitales, injected $75.5 million into PBF Energy Inc. (PBF) this month, marking a significant vote of confidence in the stock. But what could be the possible reason behind such bold investments? Energy Analyst Ben Cook at Hennessy attributes the current attractiveness of energy stocks to compelling valuation opportunities amidst recent market corrections.
