Warren Buffet's Berkshire Hathaway Buys Additional 2.57M Shares Of Occidental Petroleum, Shows SEC Filing
Portfolio Pulse from Rounak Jain
Warren Buffett's Berkshire Hathaway has purchased an additional 2.57 million shares of Occidental Petroleum, increasing its stake to about 250.6 million shares. This investment, worth over $150 million, follows a joint venture between Occidental's subsidiary TerraLithium and Berkshire's BHE Renewables to extract lithium from geothermal brine.
June 08, 2024 | 7:45 am
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Berkshire Hathaway has increased its investment in Occidental Petroleum by purchasing an additional 2.57 million shares. This move follows a joint venture between Occidental's TerraLithium and Berkshire's BHE Renewables to extract lithium.
The additional investment in Occidental Petroleum and the joint venture to extract lithium could positively impact Berkshire Hathaway's stock by showcasing strategic growth and diversification.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Berkshire Hathaway has increased its stake in Occidental Petroleum by purchasing an additional 2.57 million shares, worth over $150 million. This follows a joint venture between Occidental's TerraLithium and Berkshire's BHE Renewables to extract lithium.
The significant purchase by Berkshire Hathaway indicates strong confidence in Occidental Petroleum, likely boosting investor sentiment and short-term stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100