• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Top Trading Strategy
No Result
View All Result
Home Breaking News

Buffett Bought More of Occidental. Here’s What Happened With HP, Citi, and Coke When He Bet Big.

by
July 8, 2022
in Breaking News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter
Text size

Warren Buffett has losses as well as wins on his record of stock picking.

AFP via Getty Images

Billionaire investor Warren Buffett disclosed that he has increased his stake in

Related Posts

Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks

French bank BNP Paribas reports bumper profit for 2022, boosts stock purchase plan

BP posts record 2022 earnings to join Big Oil profit bonanza

Buying Nvidia Stock on the Dips: Here’s the Level to Watch


Occidental Petroleum

to 18.7%. That is an investment worth about $11 billion in the oil exploration company after crude prices spiked this year.

Buffett’s legendary status as a stock picker is well-deserved, but his record shows some big losses as well as wins. Here’s what happened when he bet on other companies.

Chevron

In an move similar to the bet on Occidental (ticker: OXY), the “Oracle of Omaha” ramped up his stake in oil major


Chevron

(CVX) in the first quarter, lifting his holdings to about $26 billion at the end of March from less than $5 billion at the end of 2021. Shares rose through May and remain 22% higher than at the start of the year, but they are down 15% in the past three months.

HP

Buffett increased his stake in


HP

(


HP

Q) to 11% earlier this year. The maker of computers and other technology hardware has since proven that it isn’t immune to the widespread tech selloff of 2022. Shares closed at $31.78 yesterday from as high as $40 in April. They’re down 15% this year, compared with a 25% drop in the Nasdaq.

Citi

Shares in


Citigroup

(C), the fourth-largest U.S. bank, got a pop in mid-May when it was revealed that Buffett had lifted his stake to about $3 billion as of the end of March. It was short-lived and the stock has since fallen further. It now trades at about $47, compared with a peak of $80 in May 2021 and is down 22% on the year.

Bank of America

Buffett stepped in to shore up


Bank of America

(BAC) in 2011 in the wake of the financial crisis and increased his stake last year. That bet paid off handsomely until the start of 2022, when they reached their postpandemic peak of about $49. The stock is down 28% this year and closed at $31.86 yesterday.

Coke

Buffett has held shares of


Coke

(COKE) for decades and owns almost 10% of the company. His long-term returns have been enormous on this wager, and it’s still been a decent play this year. Shares are down less than 7%, compared with a 17% drop in the S&P 500.

Write to brian.swint@dowjones.com

Next Post

Japan's former PM Shinzo Abe assassinated at campaign event

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks

by
February 7, 2023
0

Last week was a big one for tech earnings, but it ended on a whimper as a series of disappointments...

Read more

Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks

French bank BNP Paribas reports bumper profit for 2022, boosts stock purchase plan

BP posts record 2022 earnings to join Big Oil profit bonanza

Buying Nvidia Stock on the Dips: Here’s the Level to Watch

TopStepTrader Trading Combine: The Steps You Need to Know About

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

Load More

All rights reserved by www.toptradingstrategy.net

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.