Paul Morigi/Getty Images
- Energy stocks are emerging as a top favorite with Wall Street elites even as the recent string of bank failures spook markets.
- Warren Buffett's Berkshire Hathaway spent nearly $500 million on Occidental Petroleum stock in just three days.
- BlackRock and Goldman Sachs have also touted their preference for energy stocks.
The worst banking failures since 2008 have sent shockwaves across markets this month, but that hasn't stopped some of Wall Street's biggest names from piling into pockets of value in equities.