Occidental Petroleum and Warren Buffett: What's Going On
Portfolio Pulse from Anusuya Lahiri
Berkshire Hathaway has increased its stake in Occidental Petroleum to 24.9% after purchasing about $275 million of stock recently. Despite the increased stake, Warren Buffett has denied reports of Berkshire taking control of Occidental.
May 31, 2023 | 1:14 pm
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NEGATIVE IMPACT
Occidental Petroleum's stock is down as Berkshire Hathaway increases its stake to 24.9% after buying $275 million of stock.
Occidental Petroleum's stock price is likely to be negatively impacted in the short term due to the increased stake by Berkshire Hathaway. Investors may be concerned about the potential for a takeover, despite Warren Buffett's denial of such plans.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Berkshire Hathaway has increased its stake in Occidental Petroleum to 24.9% after purchasing about $275 million of stock recently.
The news of Berkshire Hathaway increasing its stake in Occidental Petroleum is likely to have a neutral impact on its stock price in the short term. While the increased stake shows confidence in the company, it may not be significant enough to drive the stock price up.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Berkshire Hathaway has increased its stake in Occidental Petroleum to 24.9% after purchasing about $275 million of stock recently.
The news of Berkshire Hathaway increasing its stake in Occidental Petroleum is likely to have a neutral impact on its stock price in the short term. While the increased stake shows confidence in the company, it may not be significant enough to drive the stock price up.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80