Berkshire Hathaway buys about $52 million of Occidental Petroleum stock

berkshire-hathaway-buys-about-$52-million-of-occidental-petroleum-stock

Warren Buffett’s holding company Berkshire Hathaway Inc. BRK.A, +0.73% BRK.B, +0.75% acquired 901,768 shares of Occidental Petroleum OXY, +8.21% in two purchases this week valued at a combined $52 million, according to a filing. Berkshire Hathaway bought 716,355 shares at $57.32 a share on Tuesday, and then acquired 185,419 shares at a price of $57.34 a share on Thursday. Berkshire Hathaway now owns 143.16 million shares of Occidental Petroleum. Shares of Occidental rose 3% in premarket trades Friday. The stock is up 104% so far this year, compared to a loss of 17.5% by the S&P 500 SPX, +2.39%.

Source: Marketwatch

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