Warren Buffett's Berkshire Hathaway Buys 9.9 Million Additional Shares Of Occidental Petroleum

Zinger Key Points
  • Berkshire Hathaway Inc now owns 163.4 million shares, worth about $9.9 billion, in the Occidental. 
  • Berkshire also had a $25.9 billion stake in oil company Chevron Corporatio.

Warren Buffett-owned Berkshire Hathaway Inc. (NYSE: BRK-A) has picked up 9.9 million additional shares of Occidental Petroleum Corporation OXY.

  • According to the U.S. Securities and Exchange Commission filing, Berkshire paid close to $582 million for the shares. 
  • Berkshire Hathaway now owns 163.4 million Occidental Petroleum shares, a 17.4% stake in the company, worth about $9.9 billion. 
  • Berkshire now holds warrants to purchase another 83.9 million Occidental shares for $5 billion.
  • Occidental acquired Anadarko Petroleum Corp for $35.7 billion in 2019.
  • Berkshire also had a $25.9 billion stake in oil company Chevron Corporation CVX at the end of March. 

Also Read: This Warren Buffett-Backed Chinese EV Maker Reports June Sales Up Over 240% From A Year Ago

 

 

 

Posted In: Anadarko Petroleum CorpBerkshire Hathaway Inc.Chevron CorporationOccidental Petroleum CorporationWarrant BuffetNewsTop StoriesMarkets

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