berkshire-hathaway-seems-headed-for-a-20%-stake-in-occidental

Berkshire Hathaway Seems Headed for a 20% Stake in Occidental

Updated July 5, 2022 4:04 pm ET / Original July 5, 2022 3:48 pm ET

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Berkshire Hathaway has rapidly increased its stake in Occidental Petroleum to 17.4% in recent trading sessions and seems headed toward a 20% interest that would allow Berkshire to reflect a proportional share of the big energy company’s earnings in its profits.

There is speculation that Berkshire Hathaway (Ticker BRK/A, BRK/B) is buying more Occidental Petroleum (OXY) stock Tuesday amid a sharp pullback in energy stocks keyed off a large decline in the price of oil. It held 163.4 million shares of Occidental on Friday.

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