Buffett’s firm picks up $500 million more Occidental shares – Omaha, Nebraska

Omaha, Nebraska 2022-06-23 14:41:20 –

Omaha, Nebraska (AP) — Warren Buffett’s Berkshire Hathaway continued to invest heavily in oil producers this year, buying more than $ 500 million in Occidental Petroleum stock last week.

Occidental shares rose more than 2% to trade at $ 57.11 on Thursday morning after Berkshire revealed that it owns 16.3% of the company’s common stock. Billionaire Reed, a conglomerate based in Omaha, Nebraska, disclosed the latest purchase filed with the Securities and Exchange Commission on Wednesday.

Berkshire bought about 9.6 million Occidental shares in a few blocks on Friday and Wednesday. After these latest purchases, Berkshire now owns 152.7 million shares of Houston-based oil producers, while Berkshire also owns 100,000 preferred shares of the company in 2019. We guarantee to purchase an additional 83.9 million Occidental shares for $ 59.62 per share acquired when we help fund the purchase of Anadarko by Occidental.

In addition to that Accidental investmentBerkshire acquired more than $ 20 billion in Chevron shares earlier this year, making it one of the five major conglomerate investments, along with large Apple and large investments in Bank of American, American Express and Coca-Cola shares. became.

Berkshire Invested over $ 51 billion Inventory in the first quarter of this year, when the market fell, does not reveal all of Berkshire’s purchases in the second quarter until the end of this summer.

In addition to buying his shares, Buffett signed a deal earlier this year Buy Allegheny Insurance Conglomerate At $ 11.6 billion.

In addition to the investment, Berkshire Hathaway includes various manufacturing and retailing companies such as BNSF Railroad, some large utilities, Geico and many other insurers, Precision Castparts, Fruit of the Loom and Dairy Queen 90. I completely own more than one company.

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Buffett’s firm picks up $500 million more Occidental shares Source link Buffett’s firm picks up $500 million more Occidental shares

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