Chevron’s investment in Oracle of Omaha was worth $ 25.9 billion at the end of March, according to the company’s first-quarter deposit on Saturday, a big jump from $ 4.5 billion at the end of 2021. Chevron shares rallied more than 30% this year due to rising oil prices, but Berkshire’s position has increased fivefold, reflecting Buffett’s markets. Zoom Icon Arrows pointing outwards Energy was a clear winner this year with the S&P 500 rising 35% year-on-year, a 13% drop from the broader benchmark to date. Many oil and gas companies are also good revenue generators, offering attractive dividends. The energy sector accounts for 4.7%, compared to the S&P 500’s dividend yield of 1.5%. Chevron pays a dividend of 3.6%. Buffett bought the Chevron for the first time in the third quarter of 2020. Warren Buffett and Becky Quick at the Berkshire Hathaway Annual General Meeting in Omaha, Nebraska, April 29, 2022. David A. Grogan | CNBC Chevron is not the only energy stock Buffett likes. Last month, the investor bought $ 7 billion worth of common stock in Occidental Petroleum in additional investment. “Along with the $ 10 billion preferred at OXY, Berkshire’s oil bet is now over $ 40 billion,” said James Shanahan, a Berkshire analyst to Edward Jones. Berkshire’s largest shareholder was still Apple, valued at $ 159 billion at the end of the first quarter. Bank of America and American Express were the other two major holdings, valued at $ 42.6 billion and $ 28.4 billion, respectively. See full coverage of CNBC Berkshire Hathaway’s annual meeting here.
