Warren Buffett’s Berkshire Hathaway continues to raise Occidental Petroleum stock in 2022.
Buffett’s lump It raised its stake in the company to 26.8% from 20.2%, according to Bloomberg.
The latest purchase comes after US regulators gave the green light to Berkshire last month to buy up to half of the oil giant.
Berkshire made several Buy Occidental shares this year.
The company’s first move to the Houston-based oil company was three years ago.
On August 19, the Federal Energy Regulatory Commission (FERC) said its mandate was “in line with the public interest,” after Berkshire said a larger stake would not harm competition, undermine regulatory authority or increase costs to consumers.
The shopping spree began with an announcement in April, before the start of Berkshire’s annual meeting, that the company held a 14% stake. Buffett said he decided Occidental was a “good place” to put the money after reading an annual report.
|ribbon||protection||else||they change||they change %|
|BRK.A||BERKSHIRE HATHAWAY INC.||429819.43||+2,969.43||+ 0.70%|
|OXY||OCCIDENTAL PETROLEUM CORP.||65.61||+1.13||+ 1.75%|
Berkshire bought another 5.9 million shares with purchases made on May 2 and May 3
Occidental’s stock price has more than doubled this year, benefiting from it Oil price hike After the Russian invasion of Ukraine on February 24.
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