Berkshire Hathaway Continues to Acquire Stake in Occidental

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%.