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Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29% - TL;DR CNBC

Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%

Publishing timestamp: 2024-06-18 09:13:02


Summary

Warren Buffett's Berkshire Hathaway has been increasing its stake in Occidental Petroleum over the past nine trading sessions, bringing its ownership to almost 29%. Berkshire purchased an additional 7.3 million shares, bringing its total holding to over 255 million shares. Buffett has clarified that he wouldn't take full control of the oil company, but has been impressed with Occidental's CEO and the company's performance. Berkshire also owns $10 billion of Occidental preferred stock and has warrants to buy more common shares.


Sentiment: POSITIVE

Tickers: BRK.BOXYBRK.A

Keywords: stock marketsbusiness newsoccidental petroleum corpberkshire hathaway incinvestment strategywall streetbreaking news: businessbreaking news: marketsmarketswarren buffettbreaking news: investing

Source: https://www.cnbc.com/2024/06/18/warren-buffett-buys-occidental-shares-for-9-straight-days-pushes-his-stake-to-nearly-29percent.html


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