Buffett’s Berkshire continues to consolidate its stake in Occidental

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.

BERKSHIRE HATHAWAY from BUFFETT wins its purchase of 50% of the shares of OCCIDENTAL

Berkshire chairman Warren Buffett. (Daniel Zochnik/WireImage/Getty Images)

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.

West sign on office building

Occidental Petroleum Corporation’s trademark. (Photo by Jay Clendenen/Los Angeles Times via Getty Images)/Getty Images)

BUFFETT’s BERKSHIRE HATHAWAY BUY EVEN MORE EXHIBITION STOCKS

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

Berkshire Hathaway logo

Berkshire Hathaway shareholders walk in front of a video screen at the company’s annual meeting in Omaha. (Reuters/Rick Wilking/file photo/Reuters Images)

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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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