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Berkshire Hathaway Nears 29% Stake in Occidental Petroleum 


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Warren Buffett’s Berkshire Hathaway has significantly expanded its investment in Occidental Petroleum OXY.N, acquiring an additional 2.95 million shares, as detailed in a regulatory filing.

Warren Buffett's Berkshire Hathaway increases its stake in Occidental Petroleum, acquiring an additional 2.95 million shares, bringing its total ownership to nearly 29%. 

Image Source: Fox Business
Warren Buffett’s Berkshire Hathaway increases its stake in Occidental Petroleum, acquiring an additional 2.95 million shares, bringing its total ownership to nearly 29%. 
Image Source: Fox Business 

This recent acquisition, costing around USD 176 million, increases Berkshire’s stake in the U.S. oil giant to nearly 29%, with the holdings now valued at approximately USD 15.37 billion.

Despite the opportunity to own up to 50% of Occidental, as permitted by U.S. regulators since August 2022, Buffett has expressed no intentions of taking over the Houston-based company.

Warren Buffett, who owns 37.3% of Berkshire Hathaway, leads the company in expanding its holdings. 

Image Source: CNBC
Warren Buffett, who owns 37.3% of Berkshire Hathaway, leads the company in expanding its holdings. 
Image Source: CNBC
Berkshire disclosed in a U.S. Securities and Exchange Commission filing that it spent approximately USD 176 million on three separate purchases of Occidental Petroleum shares since Thursday. 

Image Source: WTAQ
Berkshire disclosed in a U.S. Securities and Exchange Commission filing that it spent approximately USD 176 million on three separate purchases of Occidental Petroleum shares since Thursday. 
Image Source: WTAQ 

Moreover, Berkshire also possesses warrants allowing the purchase of an additional 83.5 million Occidental shares at a price of USD 59.62 each, which is currently below the company’s closing price of USD 60.20 on Monday.

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