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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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