{"id":1663251,"date":"2022-09-28T21:50:11","date_gmt":"2022-09-29T01:50:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1663251"},"modified":"2022-09-28T21:51:00","modified_gmt":"2022-09-29T01:51:00","slug":"buffetts-berkshire-hathaway-buys-5-99-million-more-occidental-shares","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/buffetts-berkshire-hathaway-buys-5-99-million-more-occidental-shares\/","title":{"rendered":"Buffett\u2019s Berkshire Hathaway buys 5.99 million more Occidental shares"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbuffetts-berkshire-hathaway-buys-5-99-million-more-occidental-shares%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1663251&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Jonathan Stempel and Akriti Sharma<\/p>\n<p>(Reuters) \u2013     Warren Buffett\u2019s Berkshire Hathaway Inc bought another 5.99 million shares of Occidental Petroleum Corp, boosting its stake to 20.9% after the oil company\u2019s shares lost about a fifth of their value in less than a month.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The purchases were made between Sept. 26 and Sept. 28 and cost about $352 million, Berkshire said in a regulatory filing on Wednesday.<\/p>\n<p>Following the purchases, Berkshire now owns about 194.4 million Occidental shares worth approximately $11.9 billion, based on Occidental\u2019s Wednesday closing price of $61.41.<\/p>\n<p>Berkshire had gone seven weeks since its last purchase of Occidental shares, which pushed its stake above 20%.<\/p>\n<p>The Houston-based oil company\u2019s share price later rose, peaking at $77.11 on Aug. 29, before declining amid broader weakness in U.S. equity markets. Berkshire paid in the high-50s to low-60s per share in this week\u2019s purchases.<\/p>\n<p>Occidental\u2019s share price has more than doubled this year, benefiting from rising oil prices following Russia\u2019s Feb. 24 invasion of Ukraine. <\/p>\n<p>Berkshire\u2019s stake would allow Buffett\u2019s Omaha, Nebraska-based conglomerate to report its proportionate share of Occidental\u2019s earnings with its own operating results, through the so-called equity method of accounting.<\/p>\n<p>In August, a U.S. energy regulator gave Berkshire permission to buy up to 50% of Occidental\u2019s common stock.<\/p>\n<p>Berkshire also owns $10 billion of Occidental preferred stock, which generates $800 million of annual dividends.<\/p>\n<p> (Reporting by Jonathan Stempel in New York and Akriti Sharma in Bengaluru; Editing by Subhranshu Sahu)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/buffetts-berkshire-hathaway-buys\/attachment\/the-logo-for-occidental-petroleum-is-displayed-on-a-screen\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8S01S-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8S01S-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jonathan Stempel and Akriti Sharma (Reuters) \u2013 Warren Buffett\u2019s Berkshire Hathaway Inc bought another 5.99 million shares of Occidental Petroleum Corp, boosting its stake to 20.9% after the oil<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1663251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1663251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1663251"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1663251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1663251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1663251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1663251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}