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Berkshire Hathaway (New York Stock Exchange: BRK.A) (New York Stock Exchange: BRK.B(has acquired more shares of Occidental Petroleum)New York Stock Exchange: OXY), raising its stake to 24.4%, Warren Buffett’s company disclosed on Thursday at SEC filing.
Berkshire (BRK.A) (BRK.B) said it paid more than $200m for $3.46m from Occidental (OXY)) during the period from May 16 to 18.
After buying $130 million in Occidental (OXY) shares in the previous three trading days, Berkshire (BRK.A) (BRK.B) now owns more than 217.3 million shares worth $12.7 billion; Buffett also owns about $9.5 billion in preferred stock in Occidental which carries an annual dividend yield of 8%, as well as warrants to buy $5 billion in OXY common stock at $59.62 per share.
At Berkshire’s (BRK.A) (BRK.B) annual shareholder meeting earlier this month, Buffett praised Occidental (OXY) and CEO Vicky Hollub, but said he had no interest in controlling the company.
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