Berkshire Hathaway Inc. recently added more Occidental Petroleum Corporation stock, accumulating a nearly 29% stake in the company.
Berkshire could buy more shares considering Occidental Petroleum's valuation, Warren Buffett's interest in energy, and Berkshire's cash position.
Occidental Petroleum is a good opportunity by itself already due to attractive valuation and earning catalysts.
Berkshire Hathaway’s strong interest further skews the return/risk profile.
Berkshire added more OXY stock
It is public information that Warren Buffett’s Berkshire Hathaway Inc. ( BRK.A , BRK.B ) has accumulated a large position in Occidental Petroleum Corporation (NYSE: OXY ) common stock. As illustrated by the chart below, BRK started accumulating shares in 2022 Q1 and has kept adding to the position since then. After the 2024 Q1 disclosure (during which BRK added another 1.77% to its position), a more recent exchange filing in mid-June shows that:
BRK has picked up more OXY shares over the past few days, accumulating a nearly 29% stake in the oil producer worth about $15.37B. BRK bought a little over 2.9M shares in three separate transactions on June 13, 14, and 17 for about $176M. All told, BRK acquired about 5.5M OXY shares this month alone, amassing 255.3M shares in the company. In addition, it also owns warrants to buy another 83.9M OXY shares at $59.62 per share.
News, Short Squeeze, Breakout and More Instantly...
Market Wire News is a media platform, the information on this page was provided by SeekingAlpha via Quote Media. Read our full disclaimer.
Link your Twitter Account to Market Wire News
When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
Contact the Author
Stock Information
Get OXY Alerts
News, Short Squeeze, Breakout and More Instantly...
HOUSTON, July 02, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) will announce its second quarter 2024 financial results after close of market on Wednesday, August 7, 2024, and will hold a conference call to discuss the results on Thursday, August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. ...
2024-06-29 18:38:00 ET Taking a look at what the smart money is doing on Wall Street can prove to be a useful exercise for investors. Following the end of each quarter, institutional investors such as hedge funds and wealth management firms are required by the Securities and Exchange Co...
2024-06-26 04:50:00 ET Lately, there aren't a lot of stocks Warren Buffett has found interesting enough to add to Berkshire Hathaway 's (NYSE: BRK.A) (NYSE: BRK.B) $385 billion portfolio. Buffett, through Berkshire, has made only a handful of purchases during the current bull ...
Link your Twitter Account
Link your Twitter Account to Market Wire News
When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
Trending Stock Alerts
Trending Stock Alerts
Our Next Stock Alert could be Coming in Minutes!
Sign Up Today To Get Full Access To Our Next Stock Report!
Day Before Email and Text Notifications of New Alerts