Warren Buffett's Berkshire Hathaway Boosts Stake In Occidental Petroleum

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation OXY, boosting its stake in the oil company to ~15.2%.
Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis.
The purchases made on May 2 and 3 cost ~$336 million.
Now Berkshire owns ~142.3 million Occidental shares worth $8.8 billion, plus $10 billion of preferred stock it acquired in 2019 to help finance Occidental's purchase of Anadarko Petroleum Corp, Reuters reports.
Berkshire also has warrants to buy an additional $5 billion of Occidental shares at a slight discount to their May 4 closing price of $61.57.
Price Action: OXY shares traded higher by 0.37% at $61.80 in the premarket on the last check Thursday.
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