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Buffett’s Berkshire buys more Occidental shares




Warren Buffett’s Berkshire Hathaway filled up oil stocks this week, increasing the company’s portfolio of Occidental Petroleum.

Berkshire bought around 5.9 million more shares in the oil company. The purchases, which were made on May 2 and 3, were revealed in a regulatory discovery on Wednesday, according to Bloomberg.

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Stock prices were $ 56 and $ 58.37 each.

Last weekend, when the annual meeting in Berkshire started, the company announced a 1[ads1]4% stake in Occidental.

Berkshire Hathaway boss Warren Buffett (FBN)

Buffett said he decided Occidental was a “good place” to put money after reading an annual report.

BERKSHIRE HATHAWAY INCREASES INVESTMENT IN OIL FROM SHAREHOLDERS ‘MEETING, MAKES CHEVRON THE 4TH LARGEST INVESTMENT

This investment is in addition to the preferred ownership interest it acquired in 2019 when the oil company put together the agreement for Anadarko Petroleum Corp.

Berkshire now has a 15.2% stake.

Ticker Safety Last Change Change%
BRK.A BERKSHIRE HATHAWAY INC. 494 343.00 +13 145.25 +2.73%
OXY OCCIDENTAL PETROLEUM CORP. 61.60 +2.33 +3.93%
CVX CHEVRON CORP. 167.63 +5.25 +3.24%

Occidental was the best stock in the S&P 500 in the first quarter.

Over the weekend, Berkshire also increased its stake in Chevron.

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Vicki Hollub, CEO of Occidental Petroleum, speaks at the 23rd World Petroleum Congress Conference at the George R. Brown Convention Center on December 8, 2021 in Houston.  (Photo: Brandon Bell / Getty Images)

Vicki Hollub, CEO of Occidental Petroleum, speaks at the 23rd World Petroleum Congress Conference at the George R. Brown Convention Center on December 8, 2021 in Houston. (Photo: Brandon Bell / Getty Images) (Photo by Brandon Bell / Getty Images / Getty Images)



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