Berkshire buys 6.7M more Occidental shares, now owns 20% stakeAug. 08, 2022 8:06 PM ETBerkshire Hathaway Inc. (BRK.B) , BRK.A , OXY By: Carl Surran , SA News Editor65 Comments Drew Angerer/Getty Images News
Occidental Petroleum (NYSE:OXY ) +1.3% post-market after Warren Buffett's Berkshire Hathaway (NYSE:BRK.A ) (NYSE:BRK.B ) disclosed late Monday that it acquired another 6.68M common shares of the oil and gas company during August 4-8, now owning a 20.2% stake .
According to an SEC filing , Berkshire (BRK.A ) (BRK.B ) paid ~$391M in multiple transactions at prices ranging from $57.32 to $60.01, giving Buffett's group a 20.2% stake in Occidental (OXY ) worth ~$11.3B.
Berkshire's (BRK.A ) (BRK.B ) indirect ownership in Occidental (OXY ) now totals more than 188.3M shares, plus 100K preferred shares and warrants to purchase nearly 84M common shares.
Some analysts have speculated that Berkshire could buy all of Occidental , whose share price has more than doubled during the past year .
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