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Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) has acquired more shares of Occidental Petroleum (NYSE:OXY), raising its stake to 24.4%, Warren Buffett’s company disclosed Thursday in an SEC filing.
Berkshire (BRK.A) (BRK.B) said it paid more than $200M for ~3.46M Occidental (OXY) shares during May 16-18.
After buying $130M of Occidental (OXY) stock on the three prior trading days, Berkshire (BRK.A) (BRK.B) now owns more than 217.3M shares worth ~$12.7B; Buffett’s firm also owns ~$9.5B of Occidental preferred stock carrying an 8% annual dividend, plus warrants to buy $5B of OXY common shares at $59.62 each.
At Berkshire’s (BRK.A) (BRK.B) annual shareholder meeting earlier this month, Buffett lauded Occidental (OXY) and CEO Vicki Hollub but said he has no interest in controlling the company.
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