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Warren Buffett's Berkshire Hathaway Grows Stake in Occidental Petroleum
OXYOXY(OXY) Investopedia·2025-02-12 21:30

Core Insights - Berkshire Hathaway purchased 763,017 shares of Occidental Petroleum for 35.7million,increasingitsstaketo28.235.7 million, increasing its stake to 28.2% [1][3] - Berkshire holds warrants to buy an additional 83.9 million shares at 59.62 each, totaling approximately 5billion,followingitssupportforOccidental′sacquisitionofAnadarkoPetroleumin2019[2]−Despiteincreasingitsinvestment,BerkshiredoesnotintendtotakecontrolofOccidentalPetroleum[2][3]StockPerformance−Occidentalsharesfell1.75 billion, following its support for Occidental's acquisition of Anadarko Petroleum in 2019 [2] - Despite increasing its investment, Berkshire does not intend to take control of Occidental Petroleum [2][3] Stock Performance - Occidental shares fell 1.7% to 47.82 and have decreased by about 17% over the past year [3]