While surging energy prices have roiled markets, shares of oil and gas companies have skyrocketed.
While Russia’s invasion of Ukraine sparked a surge in oil prices that has roiled markets, energy stocks like Occidental Petroleum, Chevron and Exxon Mobil have widely outperformed the rest of the market, and analysts predict more opportunities to come. Billionaire Warren Buffett’s investing conglomerate, Berkshire Hathaway, recently doubled down on Chevron shares and revealed a nearly 10% stake in Occidental Petroleum worth roughly $5 billion, recent filings show. Buffett is the fifth richest person in the world, with a net worth of $117.8 billion, according to Forbes ’ estimates.
