Berkshire Hathaway buys 9.9 mln more Occidental shares, has 17.4% stake [Reuters]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Reuters
Berkshire paid about $582 million for the shares, which it bought between Wednesday and Friday, according to a Friday night filing with the U.S. Securities and Exchange Commission. Buffett's company is Occidental's largest shareholder, now owning 163.4 million shares worth about $9.9 billion. Its stake is about 60% larger than that of Vanguard, the next largest shareholder, according to Refinitiv data. Berkshire also owns warrants to buy another 83.9 million Occidental shares for $5 billion. Occidental's share price has more than doubled this year, benefiting from Berkshire's purchases as well as rising oil prices following Russia's invasion of Ukraine. The Berkshire investment has prompted market speculation that Buffett's Omaha, Nebraska-based conglomerate might eventually buy all of Occidental. In a June 23 research report, Truist Securities analyst Neal Dingmann saw a "good chance" of a Berkshire takeover once Occidental became an investment-grade credit, saying a pur
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OXY
News
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- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Wells Fargo & Company from $62.00 to $70.00. They now have an "equal weight" rating on the stock.MarketBeat
- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Mizuho from $69.00 to $70.00. They now have a "neutral" rating on the stock.MarketBeat
OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website