{"id":615413,"date":"2023-03-07T20:02:00","date_gmt":"2023-03-08T02:02:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/07\/warren-buffetts-berkshire-hathaway-buys-more-occidental-petroleum-shares\/"},"modified":"2023-03-07T20:02:00","modified_gmt":"2023-03-08T02:02:00","slug":"warren-buffetts-berkshire-hathaway-buys-more-occidental-petroleum-shares","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/07\/warren-buffetts-berkshire-hathaway-buys-more-occidental-petroleum-shares\/","title":{"rendered":"Warren Buffett’s Berkshire Hathaway buys more Occidental Petroleum shares"},"content":{"rendered":"
\n
\n

Warren Buffett<\/p>\n

Gerard Miller | CNBC<\/p>\n<\/div>\n

\n

Warren Buffett’s Berkshire Hathaway<\/a><\/span><\/span><\/span> added to its already large Occidental Petroleum<\/a><\/span><\/span><\/span> stake over the past trading sessions, a regulatory filing<\/a> revealed Tuesday evening.<\/p>\n

The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in the range from $59.8 to $61.9, the filing showed.<\/p>\n

The latest purchase, totaling more than $350 million, marked the first time the “Oracle of Omaha” hiked his bet since September. Berkshire now owns 200.2 million shares of Occidental, worth $12.2 billion based on Tuesday’s close of $60.85.<\/p>\n

Occidental, now among Berkshire’s top 10 holdings, saw its stock retreat about 3% this year following a stellar 2022. The energy name was the best performer last year, more than doubling in price.<\/p>\n<\/div>\n

\n
Stock Chart Icon<\/title>Stock chart icon<\/desc><\/g><\/svg><\/p>\n

\"hide<\/p>\n<\/div>\n

Occidental<\/p>\n<\/div>\n

\n

On Monday, Occidental CEO Vicki Hollub said in an interview with CNBC’s Brian Sullivan<\/a> that she met with the 92-year-old investor “just a few days ago.” Hollub said they talked about the oil and gas industry and the technology involved in it.<\/p>\n

In August,\u00a0Berkshire received regulatory approval<\/a>\u00a0to purchase up to 50%, spurring speculation that it may eventually buy all of Houston-based Occidental.<\/p>\n

Berkshire also owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.\u00a0The warrants were obtained as part of the company’s\u00a02019 deal<\/a>\u00a0that helped finance\u00a0Occidental’s purchase of Anadarko<\/a>.<\/p>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Stephania Volkman<\/p>\n","protected":false},"excerpt":{"rendered":"

Warren Buffett Gerard Miller | CNBC Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions, a regulatory filing revealed Tuesday evening. The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in the […]<\/p>\n","protected":false},"author":1,"featured_media":615414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27728,534,339],"tags":[],"class_list":{"0":"post-615413","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-buffetts","8":"category-financial","9":"category-warren"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=615413"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/615414"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=615413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=615413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=615413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}