$OXY
Added 2024-06-20 10:49:30 +0000 UTCBuffett again got back in here this week and added, he now owns 29% of the company
To Buffett, this is the perfect hedge, against rising oil prices and its strong exposure to a future conglomerate sector in the making, in the form of carbon capturing and selling it as credits to companies.
Buffett will also like that the fundamentals are strong here and that they pay a 2% dividend each year, so this is a cost neutral investment for him.
The moment the price fell back into the wedge but held the 0.78 Fib and $58, Buffett added the dip, he says he is not a technical guy but he certainly knows the right spots to add.
Wave 5 remains significantly higher from here between $86 - $88.
