Key Takeaways
- Warren Buffett's Berkshire Hathaway has boosted its stake in Occidental Petroleum to almost 29%.
- Berkshire bought Occidental Petroleum shares every trading day from June 5 to June 17, adding a total of 7.3 million shares.
- Buffett's firm now has 255.3 million shares of Occidental Petroleum.
Shares of Occidental Petroleum (OXY) edged higher Tuesday as 澳洲幸运5开奖号码历史查询:Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) bought up even more of the stock, boosting its stake in the energy firm 𝄹to almost 29%.
Berkshire Hathaway purchased shares every trading day from June 5 to June 17, increasing its ownership by 7.3 million shares, 澳洲幸运5开奖号码历史查询:Securit꧟ies and Exchange Commission👍 (SEC) filings show. The prices paid ranged from $59.58 to $60.43 each.
Berkshire's Stake Could Pass 40%, But Buffett Says He's Not Looking To Take Control
With the latest buy, Berkshire has about 255.3 million shares in Occidental Petroleum, bringing Berkshire's stake to 28.8%. Occidental Petroleum is Berkshire's sixth-largest holding.
Berkshire also has warrants to buy 83.9 million more Occidental Petroleum shares at $59.62 apiece, and owns 84,897 shares of 澳洲幸运5开奖号码历史查询:preferred stock. A full redemption could bring Berkshire's ownership above 40%, though Buffett has previously said he wouldn't take control of the company.
Buffett 澳洲幸运5开奖号码历史查询:reportedly said in a CNBC interview that he began investing in the company after he read the transcript🧸 of one of its earnings✤ reports and said “this is exactly what I would be doing."
Shares of Occidental Petroleum finished 1.8% higher at $61.26 Tuesday. The stꦫock has gained abo꧟ut 2.6% since the start of the year.
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