Key News Facts
Berkshire Hathaway’s investments in Chevron and Occidental Petroleum account for over 8% of its portfolio. Since CEO Greg Abel took over on January 1, 2026, Chevron has seen a stock increase of 20.3%, while Occidental Petroleum has risen by 27.3% through July 28, 2026.
Chevron’s appeal lies in its integrated operations across all phases of oil production, offering consistent dividends, which have increased for 39 consecutive years. The company has authorized a $75 billion stock buyback plan for 2023. Conversely, Berkshire initially invested $10 billion in Occidental Petroleum in 2019 for a preferred stock yielding 8%, benefiting from rising crude prices and a 51% year-over-year increase in free cash flow in the first quarter of 2026.
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