Berkshire started aggressively buying Occidental shares in early 2022 and even secured permission from U.S. Federal Energy Regulatory Commission stock in August to be able to own up to 50% of its common. However, the recent accumulation of additional shares was the first one for the multinational company in five months.

At the moment, Berkshire owns 200.2 million Occidental shares that are worth $12.44 billion based on Wednesday’s closing price of $62.17 per share. Occidental recently increased its annual dividends rate from $0.52 to $0.72 per share, meaning that Berkshire’s stake will generate $144.14 million in annual dividends. In addition, Berkshire owns Occidental preferred stock at a value of $10 billion.

Occidental Petroleum shares have seen a significant surge in the past year, benefiting from increased demand for oil, gas, and other energy resources. The stock more than doubled in 2022 before experiencing nominal stability in 2023. Based on this week’s price, the shares are 1.8% up year-to-date.

The post Berkshire Hathaway Buys More Occidental Petroleum Shares to Increase its Stake to 22.2% appeared first on theprimarymarket.com.

This new purchase, worth around $44 million, comes after Berkshire acquired 9.5 million shares in transactions made on June 17th and June 22nd. As a result, Berkshire now owns 153.5 million shares of Occidental that are worth more than $9 billion. And this might just be the beginning.

According to Reuters, Berkshire has options that would allow them to buy a further 83.9 million Occidental shares in the future. If the options get picked up, Berkshire, already the largest individual shareholder of Occidental, would increase its stake to 25 percent.

Berkshire’s investments and increase in oil price have caused a big surge in value for Occidental Petroleum stock (OXY). It spiked 94 percent in the past year and closed at $60.68 per share on Tuesday. It previously peaked at $70.86 in late May.

Besides Occidental Petroleum, Berkshire Hathaway also made a number of other major investments in 2022. It increased its stake in oil giant Chevron, now one of Berkshire’s most significant positions, while also investing in video game powerhouse Activision Blizzard and computer maker HP.

The post Warren Buffett’s Berkshire Increases Its Stake in Occidental Petroleum to 16.4% appeared first on theprimarymarket.com.

Berkshire started aggressively buying Occidental shares in early 2022 and even secured permission from U.S. Federal Energy Regulatory Commission stock in August to be able to own up to 50% of its common. However, the recent accumulation of additional shares was the first one for the multinational company in five months.

At the moment, Berkshire owns 200.2 million Occidental shares that are worth $12.44 billion based on Wednesday’s closing price of $62.17 per share. Occidental recently increased its annual dividends rate from $0.52 to $0.72 per share, meaning that Berkshire’s stake will generate $144.14 million in annual dividends. In addition, Berkshire owns Occidental preferred stock at a value of $10 billion.

Occidental Petroleum shares have seen a significant surge in the past year, benefiting from increased demand for oil, gas, and other energy resources. The stock more than doubled in 2022 before experiencing nominal stability in 2023. Based on this week’s price, the shares are 1.8% up year-to-date.

The post Berkshire Hathaway Buys More Occidental Petroleum Shares to Increase its Stake to 22.2% appeared first on theprimarymarket.com.

This new purchase, worth around $44 million, comes after Berkshire acquired 9.5 million shares in transactions made on June 17th and June 22nd. As a result, Berkshire now owns 153.5 million shares of Occidental that are worth more than $9 billion. And this might just be the beginning.

According to Reuters, Berkshire has options that would allow them to buy a further 83.9 million Occidental shares in the future. If the options get picked up, Berkshire, already the largest individual shareholder of Occidental, would increase its stake to 25 percent.

Berkshire’s investments and increase in oil price have caused a big surge in value for Occidental Petroleum stock (OXY). It spiked 94 percent in the past year and closed at $60.68 per share on Tuesday. It previously peaked at $70.86 in late May.

Besides Occidental Petroleum, Berkshire Hathaway also made a number of other major investments in 2022. It increased its stake in oil giant Chevron, now one of Berkshire’s most significant positions, while also investing in video game powerhouse Activision Blizzard and computer maker HP.

The post Warren Buffett’s Berkshire Increases Its Stake in Occidental Petroleum to 16.4% appeared first on theprimarymarket.com.