Buffett's Berkshire Hathaway loads up on more Occidental Petroleum stock

Sep. 29, 2022 7:33 AM ETOccidental Petroleum Corporation (OXY), BRK.A, BRK.BBy: Liz Kiesche, SA News Editor48 Comments

Conference On Issues Affecting U.S. Capital Markets Competitiveness

Chip Somodevilla

  • Warren Buffett's Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) scooped up almost 6M more shares of Occidental Petroleum (NYSE:OXY), bringing the investment company's holdings to 194.5M shares, or ~20.9% of the petroleum company's outstanding common stock, according to a filing submitted late Wednesday.
  • That's up from 20% as of Aug. 30. Berkshire (BRK.B) bought the 5.99M shares in several transactions from Sept. 26 to Sept 28, at prices ranging from $57.67 per share to $61.595 per share.
  • The Omaha, Nebraska-based conglomerate bought the dip, boosting its stake in OXY as its shares fell 17% in the past month.
  • Berkshire (BRK.B) also holds 100,000 shares of Oxy's (OXY) series A preferred stock and warrants to purchase ~83.9M shares at an exercise price of $59.624 per share.
  • Occidental (OXY) shares rose 0.8% in Thursday premarket trading. Berkshire (BRK.B) B shares slipped 0.5%.
  • SA contributor The Digital Trend sees the Buffett-held stock as "ready to rock" for its ROE and profitability

Recommended For You

Comments (48)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.