Warren Buffett's Berkshire Hathaway Inc bought another 9.6 million shares of Occidental Petroleum Corp boosting its stake to 16.3% as the oil company's shares come off the year's high.
The purchases were made over the past week and cost about $529 million, Berkshire said in a regulatory filing on Wednesday. These come on top of a $336 million share purchase by Berkshire last month in the oil company, and $7 billion in purchases earlier this year.
Read the full article: https://www.reuters.com/markets/deals/berkshire-hathaway-buys-96-mln-more-occidental-shares-raises-stake-over-16-2022-06-23/
Warren Buffet’s Berkshire Hathaway (BRK.A) has bought 9.6 million more Occidental Petroleum Corporation OXY shares, raising its stake to over 16%. OXY is up 79% YTD but has fallen 19% so far this month.
Do you think OXY could rally further even as oil prices pull back?
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