Warren Buffett's Berkshire Hathaway Ramps Up Stake In Occidental Petroleum Again, Weeks After Denying A Buyout - $OXY $BRK.B
- last year
Occidental Petroleum stock is trading up Friday following a ramp-up of stake by Berkshire Hathaway (NYSE: BRK-B).
The Warren Buffett-backed conglomerate boosted its stake in the oil company to 24.4% in exchange for $201 million for 3.46 million Occidental shares between May 16 and 18, Reuters cites regulatory filings.
Berkshire purchased Occidental shares on each of the last six trading days, paying about $327 million for 5.62 million shares.
The hedge fund now owns 217.3 million Occidental shares worth about $12.7 billion.
The Warren Buffett-backed conglomerate boosted its stake in the oil company to 24.4% in exchange for $201 million for 3.46 million Occidental shares between May 16 and 18, Reuters cites regulatory filings.
Berkshire purchased Occidental shares on each of the last six trading days, paying about $327 million for 5.62 million shares.
The hedge fund now owns 217.3 million Occidental shares worth about $12.7 billion.