A looming market week
Plus, Equinor - The hero Oil & Gas stock & Warren Buffet bought $6bn of this stock
Hello there,
Dow Jones futures rise along with S&P 500 and Nasdaq, while crude oil prices continue to fall sharply.Â
Why it matters: With Russia/Ukraine invasion still on, the main event for investors this week will be the Fed meeting to raise interest rates. Analysts and investors have been waiting with baited breath for the meeting as the results could change the course of the market. (Investors)
Equinor - The hero Oil & Gas stock
The Norwegian state-controlled company is the second-largest provider of natural gas to Europe.Â
Why it matters: Coupled with the surge in gas prices and most European countries wanting to reduce their exposure to Russian gas in the coming years, Equinor (EQNR) is and is going to benefit greatly. The company’s shares are now trading at $33 - with 8.6 times projected 2022 earnings. The company also plans to buy back $5 billion of stock this year, with a total yield of 10% - one of the highest among major energy producers. With no net debt, Equinor also has one of the best balance sheets among major energy companies. (Barrons)
Warren Buffet bought $6bn of this stock
Buffett has invested $6billion into Occidental petroleum stock.Â
Why it matters: Seeing the better-than-expected fourth-quarter earnings of Occidental (OXY), Berkshire decided to load up their stake in the oil giant. The oil company has risen 87% this year, reflecting the surging oil prices and Russian-Ukraine oil supply fears. With this robust plow, the famed investor’s company, Berkshire (BRK.A) (BRK.B) now owns 13% of the oil company. (Market Insider)
That’s it from us today,
See you tomorrow.