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Warren Buffett's Berkshire buys more Occidental after 30% sell-off from record high


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Published in Business and Finance on Wednesday, February 12th 2025 at 16:41 GMT by MSN   Print publication without navigation

  • The Omaha, Nebraska-based conglomerate scooped up 763,000 shares of the Houston-based oil and gas producer on Friday for $35.7 million, according to a filing.

Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum by purchasing an additional 4.3 million shares, bringing its total ownership to 255.3 million shares, or about 28.8% of the company. This move comes after Occidental's stock experienced a significant decline of over 30% from its peak in August 2022, influenced by falling oil prices and concerns over the company's debt levels. Despite these challenges, Buffett's continued investment signals confidence in Occidental's long-term value, particularly as it aligns with his strategy of investing in energy sectors during downturns. The acquisition was made at a time when Occidental's shares were trading at a lower price, suggesting Buffett sees the current market conditions as an opportunity to buy at a discount.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/warren-buffett-s-berkshire-buys-more-occidental-after-30-sell-off-from-record-high/ar-AA1yTXIO ]

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