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HomeOil and GasBerkshire Buys Additional 2.57 Million Shares in Occidental Petroleum, Filing Shows

Berkshire Buys Additional 2.57 Million Shares in Occidental Petroleum, Filing Shows

6/8/2024

(Reuters) — Warren Buffett’s Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing.

Buffett’s company bought additional shares in Occidental’s common stock for more than $150 million and now owns about 250.6 million shares in the energy producer.

Occidental shares closed at $59.48 on Friday.

As of March, Berkshire owned a roughly 28% stake in Occidental.

Occidental Petroleum previously announced it had entered into a joint venture with Berkshire Hathaway’s energy unit to extract lithium in their geothermal facility in California.

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