Warren’s all-in buy on Oxy is still a bit of a head scratcher for me. Sure, he was already in big, but he keeps adding more, as J pointed out.
They are unhedged, so the current oil and NG windfall goes right to their bottom line.
Still, Using late 2021 oil prices and recent 10-k, the present value of future cash flows is only around $31 per share. Moody’s recently upgraded the substantial debt, but it is still “speculative” grade.
Timing is everything, they say. And Warren has better info than I do.