Warren Buffett isn’t the only one who likes the energy sector. Alongside Berkshire Hathaway’s huge purchases of Occidental Petroleum shares, insiders at energy companies have been buying large amounts of stock for weeks and selling very little.

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Warren Buffett has purchased $345 million worth of Berkshire Hathaway stock in the June quarter. This brings the year-to-date total to $2.6 billion and nearly $78 billion since 2018. Regular buybacks suggest that Buffett believes Berkshire stock is often undervalued.

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