Warren Buffett's Berkshire Hathaway Bumps Up Occidental Stake To 25% With $122M Share Purchase
Portfolio Pulse from Shanthi Rexaline
Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum Corp to 25% with a $122M share purchase. This follows a $201M purchase in mid-May. Occidental is an upstream oil and gas company with reserves in the U.S., the Middle East, and North Africa. Despite a year-to-date decrease of 8.2%, analysts expect oil prices to recover with global economic growth.
June 29, 2023 | 8:26 am
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POSITIVE IMPACT
Berkshire Hathaway's increased stake in Occidental could potentially boost its earnings if oil prices recover as expected.
Berkshire Hathaway's increased stake in Occidental shows confidence in the company's future performance. If oil prices recover as expected, this could lead to increased earnings for Berkshire.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Berkshire Hathaway's increased stake in Occidental could potentially boost its earnings if oil prices recover as expected.
Berkshire Hathaway's increased stake in Occidental shows confidence in the company's future performance. If oil prices recover as expected, this could lead to increased earnings for Berkshire.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Occidental's shares have been purchased in large quantities by Berkshire Hathaway, indicating confidence in the company's future performance. However, shares are down 8.2% year-to-date.
Berkshire Hathaway's increased stake in Occidental shows confidence in the company's future performance. However, Occidental's shares are down 8.2% year-to-date, indicating potential risk.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100