Investing
Warren Buffett’s Berkshire Hathaway ups stake in Occidental Petroleum
© Reuters. Warren Buffett’s Berkshire Hathaway ups stake in Occidental Petroleum (OXY)
Occidental Petroleum (NYSE:) shares are up around 2% Friday after Berkshire Hathaway (NYSE:) (BRK.A) (BRK.B) upped its stake in the company to nearly 28%.
According to a regulatory filing, Warren Buffett-led Berkshire Hathway has acquired around 5.2 million shares of Occidental for about $312.1 million, putting its stake at 27.7%.
The filing with the US Securities and Exchange Commission shows the shares were purchased between December 19 and December 21.
At the time of writing, OXY is trading at $61.72, up 2.3%.
Only last week, it was revealed in a filing that Berkshire had acquired about 10.5 million shares of Occidental for about $588.7 million.
Read the full article here
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