This Might Be Warren Buffett's FOMO Stock Sector

By Jason Hall and Tyler Crowe – May 7, 2023 at 5:02AM

NYSE: XOM

ExxonMobil

Market Cap

$481B

Today's Change

(0.23%) $0.28

Current Price

$121.33

Price as of April 25, 2024, 4:00 p.m. ET

The world's greatest investor has been very hit-or-miss with oil stocks. But he keeps going back to the (oil) well.

Berkshire Hathaway (BRK.A -0.30%) (BRK.B -0.26%) CEO Warren Buffett has taught us many lessons simply by pointing out his own investing mistakes. Ironically, there's reason to wonder whether he's learned from his own bad bets in the oil patch.

In this video, Motley Fool contributors Jason Hall and Tyler Crowe take a look back at Buffett's history in the oil sector and whether his big investments in Chevron (CVX 1.04%) and Occidental Petroleum (OXY 0.82%) will work out better than past bets on ConocoPhillips (COP 0.64%), ExxonMobil (XOM 0.23%), and more.

*Stock prices used were from the afternoon of May 2, 2023. The video was published on May 7, 2023.

Jason Hall has positions in Berkshire Hathaway. Tyler Crowe has positions in Berkshire Hathaway and ExxonMobil. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.