Warren Buffett’s Berkshire Hathaway increased its stake in Occidental Petroleum this week, taking on another 3.9 million units of the company’s stock at an average price of roughly $63 per share.
According to a filing with the Securities and Exchange Commission, Berkshire Hathaway has upped its holdings from 25.1% to 25.8% of the oil producer.
Shares of the energy company drifted lower on Thursday.
Berkshire’s latest purchase brings its total to 228 million shares worth $14.5 billion. Buffett’s Hathaway made its last purchase of Occidental in June, when it raised its stake to 224.1 million at just over $57 per share.
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While Berkshire Hathaway has regulatory approval to acquire as much as 50% of Occidental Petroleum, Buffett said at the company’s annual meeting this summer that he is not seeking to control the Texas-based energy company.
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In addition to Occidental Petroleum, Berkshire holds equity in a variety of companies, including longtime holdings; American Express, Coca-Cola, Chevron and a more recently homebuilders D.R. Horton and Lennar.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO. | 143.52 | -0.90 | -0.62% |
| KO | THE COCA-COLA CO. | 56.12 | +0.48 | +0.86% |
| CVX | CHEVRON CORP. | 154.10 | -1.77 | -1.14% |
| DHI | D.R. HORTON INC. | 100.66 | -1.10 | -1.08% |
| LEN | LENNAR CORP. | 104.27 | +1.15 | +1.12% |
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