Investing
Berkshire Hathaway boosts stake in Occidental Petroleum to about 28%
© Reuters. FILE PHOTO: Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermid/File Photo
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(Reuters) – Warren Buffett-led Berkshire Hathaway (NYSE:) has acquired 5.2 million shares of Occidental Petroleum Corp (NYSE:), bringing its stake in the oil company closer to 28%, according to a regulatory filing on Thursday.
Berkshire purchased the shares between Dec. 19 and Dec. 21 for about $312.1 million, with its stake in Occidental totaling to 27.7%, a filing with the U.S. Securities and Exchange Commission showed.
Last week, Berkshire Hathaway acquired nearly 10.5 mln shares of Occidental for about $588.7 mln after the company agreed to buy U.S. shale oil producer CrownRock in a $12 billion deal.
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