(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. won approval from US regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months snapping up its shares. Occidental’s stock had its biggest gain in five months. Most Read from Bloomberg The Federal Energy Regulatory Commission said in a filing published Friday that Berkshire’s proposed stock purchases are “consistent with the public interest.” Berkshire applied for the authorization on July 11, FERC… Source link
Read More »Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices well above $100
Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices well above $100 Warren Buffett kept a lot of cash on hand in recent years. At the end of 2021, the cash pile at his holding company Berkshire Hathaway had grown to a near-record $146.7 billion. That shouldn’t come as a surprise. Buffett is a value investor, after all, and valuations were bloated in the U.S. stock market after significant rallies in 2020 and 2021. “We find little that… Source link
Read More »Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices shooting past $100
Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices shooting past $100 Warren Buffett kept a lot of cash on hand in recent years. At the end of 2021, the cash pile at his holding company Berkshire Hathaway had grown to a near-record $146.7 billion. That shouldn’t come as a surprise. Buffett is a value investor, after all, and valuations were bloated in the U.S. stock market after significant rallies in 2020 and 2021. “We find little that… Source link
Read More »Warren Buffett plowed $4.5 billion into Occidental Petroleum in 5 days. He pounced after reading its latest earnings-call transcript.
Warren Buffett.Kevin Lamarque/Reuters Warren Buffett’s Berkshire Hathaway invested $4.5 billion into Occidental Petroleum in five days. The investor pounced after reading a transcript of Occidental’s latest earnings call, he told CNBC. Berkshire snapped up 91.2 million shares, securing a stake worth more than $5 billion today. Warren Buffett’s Berkshire Hathaway plowed $4.5 billion into Occidental Petroleum in five days, securing 91.2 million shares worth upward of $5 billion today. The famed… Source link
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