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CVX has been fluctuating between 120 and 160 for a full four years, and recently there are signs of a breakout. There is an interesting story behind this—Buffett's布局 in the oil sector is finally beginning to show its strength.
Let's review his investment path in oil stocks: in 2019, he directly投入 $10 billion to buy preferred shares of Occidental Petroleum, which was a big move. By the fourth quarter of 2020, he started底部买入 Chevron, building a position of nearly 48.5 million shares in one go. From that point on, Buffett's holdings in the energy sector have remained there, waiting for the market's reaction.
Now it seems that the turning point of this investment may truly have arrived. When an asset in a long-term consolidation suddenly shows signs of突破, it often indicates that the real改善 of the fundamentals is gradually unfolding. Whether the energy sector can持续走强 remains to be seen.