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Berkshire Hathaway Continues to Acquire Stake in Occidental

Ajay Rathod Sep 12, 2022
Warren Buffett’s Berkshire Hathaway first bought shares of Occidental three years ago.
In 2022, Berkshire has made multiple purchases of Occidental.
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Before the latest purchase, Berkshire owned 188.5 million Occidental Petroleum shares, which was a 20.2% position.
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According to Bloomberg, Berkshire Hathaway’s current position in Occidental is at 26.8%.
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On July 11, Berkshire filed an application with the Federal Energy Regulatory Commission to allow them to buy more of the oil company’s common stock.
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On August 19, Berkshire received regulatory approval allowing them to buy 50% of oil giant Occidental Petroleum.
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Berkshire also owns $10 billion of Occidental Preferred Stock and has warrants to buy another 83.9 million common shares at $59.62 each.
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If the warrants are exercised, Berkshire’s stake would rise up to 33%.