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Buffett’s Berkshire Hathaway (NYSE:BRK.A) once more loaded up on Occidental Petroleum inventory this week buying 5.9 million shares for about $345 million.
He purchases shares on Monday and Tuesday for common per-shares costs starting from $55.99 to $58.37, in keeping with an SEC filing. The purchases carry Berkshire’s stake to 142.3 million shares.
Within the first quarter, Berkshire (BRK.A) bought ~$7.0b value of the Occidental. Buffett famous on the Berkshire annual assembly over the weekend that he was capable of purchase 14% of the petroleum refiner over only a two-week period.
Buffett provided few insights into oil markets (USO) on the annual gathering, slightly indicating that he’d learn a report on Occidental (NYSE:OXY) over a weekend and felt the CEO was merely operating the corporate properly; Buffett has been a long-time shareholder in Chevron (CVX).
Along with the widespread shares in Occidental (OXY), Omaha, Nebraska-based Berkshire (NYSE:BRK.B) holds 200,000 sequence A most popular inventory. Warrants that Berkshire holds would enable it to purchase nearly 84M shares of OXY inventory at $59.624 per share.
Additionally see, Berkshire Hathaway invested over $40B in three weeks in Q1: annual meeting.
