5 Oil Stocks Billionaires Are Loading Up On

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1. Occidental Petroleum Corporation (NYSE:OXY)

Number of Billionaire Investors: 19

Dollar Value of Billionaire Holdings: $14,492,441,777

Number of Hedge Fund Holders: 81

Occidental Petroleum Corporation (NYSE:OXY) is a Houston, Texas-based oil and gas E&P company that operates in various regions globally, including the US, Latin America, the Middle East, and North Africa. The company has secured first place on our list of the best oil stocks billionaires are loading up on.

Berkshire Hathaway Inc. (NYSE:BRK-B) holds a stake worth $13.22 billion in Occidental Petroleum Corporation (NYSE:OXY) as of March 31, with around 211.71 million shares. The investment arm of the diversified conglomerate led by Warren Buffett increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by acquiring 4.66 million shares in the company between May 25 and 30. The Oracle of Omaha also holds $10 billion worth of preferred stock of the company and has warrants to buy $5 billion worth of stock at a share price of $59.62. Mr Buffett has indicated that he does not intend to control the company and appreciates the efforts of the current CEO, Vicki Hollub.

Disclosure: None. You can also take a look at the 11 Best AI ETFs to Invest In 2023 and the ChatGPT Stock Portfolio: Top 10 Picks.

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