Warren Buffett's Berkshire Hathaway ups stake in Occidental Petroleum, again
Oracle of Omaha has regulatory approval to purchase 50% of Occidential
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Warren Buffett’s Berkshire Hathaway increased its stake in Occidental Petroleum this week, taking on another 3.9 million units of the company’s stock at an average price of roughly $63 per share.
According to a filing with the Securities and Exchange Commission, Berkshire Hathaway has upped its holdings from 25.1% to 25.8% of the oil producer.
Shares of the energy company drifted lower on Thursday.
Berkshire’s latest purchase brings its total to 228 million shares worth $14.5 billion. Buffett’s Hathaway made its last purchase of Occidental in June, when it raised its stake to 224.1 million shares at just over $57 per share.
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Signage is displayed outside of Occidental Petroleum Corp. headquarters in Carlsbad, New Mexico, on Sept. 11, 2020. (Callaghan O'Hare/Bloomberg via Getty Images / Getty Images)
While Berkshire Hathaway has regulatory approval to acquire as much as 50% of Occidental Petroleum, Buffett said at the company’s annual meeting this summer that he is not seeking to control the Texas-based energy company.
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In addition to Occidental Petroleum, Berkshire holds equity in a variety of companies, including longtime holdings American Express, Coca-Cola and Chevron and more recently homebuilders D.R. Horton and Lennar.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO. | 359.59 | -16.02 | -4.27% |
| KO | THE COCA-COLA CO. | 70.50 | -0.01 | -0.01% |
| CVX | CHEVRON CORP. | 162.34 | +0.23 | +0.14% |
| DHI | D.R. HORTON INC. | 159.71 | +2.43 | +1.55% |
| LEN | LENNAR CORP. | 120.90 | +1.65 | +1.38% |