Warren Buffett's Berkshire Hathaway Ramps Up Stake In Occidental Petroleum Again, Weeks After Denying A Buyout
Portfolio Pulse from Anusuya Lahiri
Berkshire Hathaway has increased its stake in Occidental Petroleum to 24.4% by purchasing 3.46 million shares for $201 million. The firm now owns 217.3 million Occidental shares worth about $12.7 billion, as well as $9.5 billion of preferred stock and warrants.
May 19, 2023 | 11:36 am
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POSITIVE IMPACT
Berkshire Hathaway increases its stake in Occidental Petroleum, now owning 217.3 million shares worth $12.7 billion.
Berkshire Hathaway's increased stake in Occidental Petroleum demonstrates its confidence in the company's growth potential. This move is likely to have a positive impact on Berkshire Hathaway's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Occidental Petroleum's stock price is up after Berkshire Hathaway increased its stake in the company to 24.4%.
Berkshire Hathaway's increased stake in Occidental Petroleum signals confidence in the company's growth potential, which is likely to have a positive impact on Occidental Petroleum's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100