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Warren Buffett’s Berkshire Hathaway increased its stake in Occidental Petroleum this week, taking on another 3.9 million units of the company’s stock at an average price of roughly $63 per share.
According to a filing with the Securities and Exchange Commission, Berkshire Hathaway has upped its holdings from 25.1% to 25.8% of the oil producer.
Shares of the energy company drifted lower on Thursday.
Occidental Petroleum
Berkshire’s latest purchase brings its total to 228 million shares worth $14.5 billion. Buffett’s Hathaway made its last purchase of Occidental in June, when it raised its stake to 224.1 million shares at just over $57 per share.
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![OXY](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/10/931/523/OXY.jpg?ve=1&tl=1)
Signage is displayed outside of Occidental Petroleum Corp. headquarters in Carlsbad, New Mexico, on Sept. 11, 2020. (Callaghan O'Hare/Bloomberg via Getty Images / Getty Images)
While Berkshire Hathaway has regulatory approval to acquire as much as 50% of Occidental Petroleum, Buffett said at the company’s annual meeting this summer that he is not seeking to control the Texas-based energy company.
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In addition to Occidental Petroleum, Berkshire holds equity in a variety of companies, including longtime holdings American Express, Coca-Cola and Chevron and more recently homebuilders D.R. Horton and Lennar.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AXP | AMERICAN EXPRESS CO. | 245.89 | +5.71 | +2.38% |
KO | THE COCA-COLA CO. | 67.05 | +0.97 | +1.47% |
CVX | CHEVRON CORP. | 157.84 | +0.30 | +0.19% |
DHI | D.R. HORTON INC. | 177.00 | +4.27 | +2.47% |
LEN | LENNAR CORP. | 176.71 | +5.43 | +3.17% |
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