Warren Buffett's Berkshire Hathaway Boosts Its Stake In Occidental Petroleum
Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) acquired more shares in Occidental Petroleum Corp (NYSE: OXY), increasing its stake to about 23.1%, according to a regulatory filing.
According to the filing, Berkshire paid about $466.68 million for 7.9 million Occidental shares between March 13 and March 15.
Earlier this month, Berkshire Hathaway resumed its purchases of Occidental Petroleum shares after a gap of five months.
Berkshire Hathaway's company now owns about 208.04 million Occidental shares worth $11.81 billion, based on Wednesday's closing price of $56.80.
Also Read: What's Going On With Occidental Petroleum Stock After Hours?
Berkshire Hathaway bought over 5.8 million shares of Occidental Petroleum between March 3 and March 7, being the first purchase of Occidental shares disclosed by Berkshire Hathaway after Sept. 2022, according to a Reuters report that puts the Buffett-owned firm's current stake in the company at 22.2%.
Price Action: OXY shares are up 0.62% at $57.15 during the premarket session on the last check Thursday.
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