So, Warren Buffett bought a whole lot of Chevron. Like, 8 million shares worth. And now oil‘s flirting with a hundred bucks a barrel. Everyone’s acting surprised. It’s like finding out your grandpa likes Werther’s Originals. Predictable. But let’s be real, the market loves a narrative. “Buffett’s prescience!” they’ll shout. I’m just saying, sometimes a guy buys stock in a giant oil company because… well, people still drive cars. It’s not rocket science. Though, admittedly, oil is kinda like rocket science… in terms of how easily it can make your portfolio explode.
What He Actually Bought (and Why It’s Slightly Terrifying)
Berkshire Hathaway now owns about 130 million shares of Chevron. That’s, like, a lot. Enough to make even me feel a little guilty about my gas-guzzling SUV. They also scooped up a bunch of Occidental Petroleum, and then, just for kicks, bought OxyChem. It’s like they’re building an energy empire… or auditioning for a Bond villain role. The interesting thing isn’t that they’re in energy, it’s that they’re trimming Apple. Apple! That’s like trading in your sensible cardigan for a leather jacket and a motorcycle. It signals a shift. A commitment. Or maybe Warren just really likes dividends.
The (Surprisingly Solid) Thesis
Okay, let’s give credit where it’s due. Chevron isn’t a terrible company. They pump out a lot of oil, they return money to shareholders, and they have that whole “optionality” thing going on with the oil price. Last year, they managed to be productive even when oil was being…difficult. They hit record production, boosted their cash flow, and raised their dividend for the 39th year in a row. Thirty-nine! I can barely remember what I had for breakfast. Now, with oil at $100, that looks even better. They’ve also been chipping away at costs, aiming for $3 to $4 billion in savings. That’s like finding a twenty in your old jeans. Pleasantly surprising.
And Occidental? They sold OxyChem to Berkshire, which freed up a bunch of cash to pay down debt. It’s a tidy little operation. It’s like adulting, but with more oil derricks.
How This Looks Now (and Why I’m Still Slightly Suspicious)
Chevron’s stock is up over 26% this year. Which means someone made a lot of money. And that someone was probably not me. It also yields a respectable 3.6% with a dividend that’s been growing for almost four decades. That’s a track record. It’s like a really reliable friend. You know they’ll always be there, even when your portfolio is doing the Macarena.
If oil stays high, Chevron will generate even more cash. If it falls, they have that dividend and those cost savings to cushion the blow. They already did okay when oil was in the sixties. It’s a pretty solid setup. Whether the Iran thing escalates or not, Chevron is likely to deliver for investors. The question isn’t if, it’s how much. And honestly, in this market, I’m always suspicious of anything that seems…too good. It’s probably just a temporary blip before the robots take over and we’re all bartering for gasoline with vintage Beanie Babies.
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2026-03-21 00:14