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Benzinga
Benzinga
Business
Akanksha Bakshi

Berkshire Hathaway Raises Stake In Occidental Petroleum, Find Out How Much

Berkshire Hathaway Occidental OXY NYSE Petroleum Warren Buffet Berkshire Hathaway Inc Occidental Petroleum Corp
  • Warren Buffet’s Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) has purchased another 794,389 shares of Occidental Petroleum Corp (NYSE:OXY), at an average price of ~$55.39, according to a Form-4 filing with the U.S. Securities and Exchange Commission.
  • The total purchase amount was ~$44 million for ~794 thousand shares of OXY.
  • Last week the company had disclosed the purchase of ~9.55 million shares at an average price of $55.36.
  • The recent purchase of OXY shares brings Berkshire Hathaway’s total stake in the company to 16.4%.
  • BRK also owns options to buy another 83.9 million Occidental shares, which, if exercised, would bring its stake to more than 25%, mentioned Reuters.
  • Price Action: OXY shares are trading higher by 3.87% at $61.18 during the premarket session on Monday.
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