Warren Buffett's big bet on Occidental Petroleum stock (OXY stock)! Deep value & higher oil prices?

Warren Buffett's Berkshire Hathaway has a big bet on Occidental Petroleum (OXY stock). This includes a $10bn preferred paying 8% interest, $5bn in stock warrants (to buy the common stock around $60 per share) and another $1bn+ in recent OXY purchases. This suggests two things:
1. Warren Buffett thinks higher oil prices are here to stay and 2. OXY is still dirt cheap.

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[SABAI]

I bought OXY at $21, it's now $70.

[Delta-gxfm]

Look at the stock chart, there is plenty of room for it to continue up. The volume was off the chart today. Im buying calls, as many contracts I can afford.

[brendansherry]

Remember he isn't perfect. He was paid a dividend in shares at about 18 bucks a share in 2020. He sold those immediately.

[brians]

It's funny to see all these people looking at oil companies like Oxy at 50 bucks but when I bought it at 10 bucks in 2020 everyone was crying about ESG and the like. Everyone has morals until they start losing money.

[MrYufu]

just buy Berkshire then as he has so many options given large pile of cash he has right now.

[hiramnoone]

Up $3 today when the rest of the sector was down.

[EccentricWilly]

Hey Daniel you will want to see if they did any hedging. They have in the past and if they did again then their gains from high prices will remain capped

[jholidy]

I thought he bought and sold out of it in 2019.

[peanutz]

US bets on oil production and and the price won’t go down due to electronic vehicles transition, a double buy

[hamdiguler]

Oxy insider is selling. 120$ high oil prices are not sustainable. Oxy has a ton of debt. I would rather short oxy

[ArcanePath]

I think we needed this video last week, looking at the price today, lol

[surfreadjumpsleep]

Why OXY? One word: Venezuela. Correct?

[thomassupertramp]

HAVE a look at ARC resources ! trading at 2.5 FCF . listed on the TSX

[Wayne-hc]

I think he knows something we don't know

[jsauerfinancial]

I prefer Shell’s stock .. they have a better long-term transition plan, and you’d make 50% just from it appreciating from 8x free cash flow to the 12.5x free cash flow we see for Exxon & Chevron

[iansutanto]

Does Buffet still own Suncor? And how does this O&G company compare? P/E for Suncor is half of OXY

[kkim]

Way too late… Icahn and I cashed out. I took home 98% profit and threw that in the beaten down stocks. I made a move before Warren buffet. Ain’t that something ??? Bought it at $26, bought some more rounded up to $28, then cashed out at $55. Warren Buffet joining the party too late. Both warren and Charlie are getting senile. Charlie throwing his money away on Alibaba, etc

[HEJInvesting]

It blows my mind to think less than 2 years ago oil prices turned NEGATIVE and now we’re closing in on $150 a barrel!

[thinkinvest]

Buying oil stocks when oil is at all time high seems just as smart as buying Airplane companies before the pandemic...