No. of Recommendations: 11
And if prices rise substantially as Hollub suspects, we’ll make out like bandits.
Small bet on the latter…And Buffett keeps buying:
investors.com - Warren buffett doubles down on big oil amid tech crazed market bp surprises with earningsThe nice thing about this sector, and the reason Hollub expects higher prices, is that the major oil companies seem to be focussing on returning cash to investors, instead of spending it on eploration and development:
U.K.-based oil major BP (BP) surged 5.6% early Tuesday on better-than-expected fourth-quarter earnings. This comes after supermajors Exxon Mobil and Chevron also surprised Wall Street with Q4 earnings last week as both energy giants focus on returns for shareholders.
Chevron increased its quarterly dividend by 8% to $1.63, from $1.51 after buying back 5% of it stock in 2023. Exxon Mobil and Chevron handed out a combined $58.7 billion to shareholders last year and expects to continue this focus in 2024.Berkshire now owns 248,018,128 shares, according to the SEC filing (
U.S. Securities and Exchange Commission: SEC FORM 4), plus warrants to purchase another 83,858,848.81 shares, for a total of 33.9% of Occidental's shares, if the warrants are exercised. They are currently slightly underwater, with the exercise price at $59.624 and the share price at $57.80, but I there's a pretty good chance they will end up in the money.
dtb
