Chevron & Occidental Petroleum The first two stocks Warren Buffett has been buying hand over fist as inflation skyrockets are energy giants Chevron (NYSE: CVX) and Occidental Petroleum (NYSE: OXY). Meanwhile, the share-buying of Occidental Petroleum has been more methodical, with Berkshire Hathaway filing paperwork with the Securities and Exchange Commission (SEC) seemingly every couple of weeks to note a new purchase. Buying shares of Citigroup and Ally Financial is a smart way of taking advantage of this simple numbers game and benefiting from the natural expansion of the U.S. and global economy.