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Berkshire Hathaway buys more Occidental shares, stake rises to 23.1%

Published 03/15/2023, 10:02 PM
Updated 03/15/2023, 10:06 PM
© Reuters. FILE PHOTO: FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo

© Reuters. FILE PHOTO: FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) - Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc purchased more Occidental Petroleum Corp (NYSE:OXY) shares, increasing its stake in the oil company to about 23.1%, a regulatory filing showed on Wednesday.

Berkshire paid about $466.68 million for 7.9 million Occidental shares between March 13 and March 15, according to the filing.

Earlier this month, filings revealed that Berkshire Hathaway had resumed its purchases of Occidental Petroleum Corp shares after a five-month hiatus.

© Reuters. FILE PHOTO: FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo

The Omaha, Nebraska-based company company now owns about 208.04 million Occidental shares worth $11.81 billion, based on Wednesday's closing price of $56.80.

Berkshire began buying large quantities of the Houston-based company's stock about one year ago.

Latest comments

He could've bought the company 3 years ago for $20 billion
Buffet sold oxy at $9 and is a buyer at $60 lmao
exactly no one ever reports that. I have thought the same thing for over a year why does no one say anything about that
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