Occidental Petroleum stock rallies after Warren Buffett’s Berkshire Hathaway boosts stake to 25%

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Occidental Petroleum stock rallies after Warren Buffett’s Berkshire Hathaway boosts stake to 25%
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Shares of Occidental Petroleum Corp. rose 1.0% in premarket trading Thursday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed that it boosted its...

Shares of Occidental Petroleum Corp. OXY rose 1.0% in premarket trading Thursday, after Warren Buffett’s Berkshire Hathaway Inc. BRK.B BRK.A disclosed that it boosted its stake in the oil and gas company to over 25%. In a filing with the Securities and Exchange Commission late Wednesday, Berkshire disclosed that it spent $122.1 million to buy 2.14 million more Occidental shares, bringing the total ownership to 224.13 million shares, or 25.1% of the shares outstanding.

A disclosed that it boosted its stake in the oil and gas company to over 25%. In a filing with the Securities and Exchange Commission late Wednesday, Berkshire disclosed that it spent $122.1 million to buy 2.14 million more Occidental shares, bringing the total ownership to 224.13 million shares, or 25.1% of the shares outstanding. The filing showed that Berkshire bought 638,301 shares at a weighted average price of $57.0143 on Monday, 1,239,180 shares at $57.

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