Warren Buffet’s Berkshire Hathaway has bought more Occidental Petroleum shares!
The company bought 5.99 million shares in the first three days of the week, bringing its stake to about 20.9%, according to an SEC filing released late Wednesday.
Tweet on Occidental shares
Berkshire Hathaway adds Occidental shares
Buffet's company bought 5.99 million shares in the first three days of the week, bringing its stake to about 20.9%, according to an SEC filing, via @barronshttps://t.co/6VUOrIntAd
— The_Journalbiz (@the_journalbiz) September 29, 2022
Berkshire has snapped up shares of Occidental this year, quickly becoming its biggest single shareholder.
The purchases have stoked speculation about whether Berkshire may eventually seek to acquire all of Occidental.
At the moment, Berkshire has regulatory permission to buy up to 50% of Occidental’s shares.
Analysts have noted that Berkshire has tended to time its purchases for when Occidental shares have fallen below $60 something that happened this week as global markets slumped