Warren Buffett's Berkshire Hathaway ups stake in Occidental Petroleum, again

Oracle of Omaha has regulatory approval to purchase 50% of Occidential

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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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.

Berkshire Hathaway

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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. 218.21 +0.14 +0.06%
KO THE COCA-COLA CO. 58.28 -0.76 -1.29%
CVX CHEVRON CORP. 158.95 -2.94 -1.82%
DHI D.R. HORTON INC. 151.71 +1.02 +0.68%
LEN LENNAR CORP. 159.85 +0.39 +0.24%

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