Drew Angerer/Getty Images News
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.
More about Occidental Petroleum:
