Minority Stock Positions

Berkshire Hathaway Pushes Its Occidental Petroleum Stake Above 20%

(BRK.A), (BRK.B)

A dip in the price of Occidental Petroleum below $60 has Warren Buffett resuming his purchases of OXY shares, spending $391 million for just under 6.7 million Occidental shares between Aug. 4 and Aug. 8.

Berkshire now owns 188.4 million Occidental shares, which is 20.2% of all outstanding shares.

The purchases bring Berkshire Hathaway’s stake to over 20% and enable it to add a portion Occidental’s earnings to its own depending on the accounting method it chooses.

In its latest Form 4 filing, Berkshire made purchases at prices as low as $57.326 and as high as $60.0162.

In addition to its over 20% stake in OXY common stock, Berkshire also holds 200,000 series A preferred stock shares and warrants that Berkshire for roughly 84M shares of common stock at $59.624 per share.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future

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