{"id":1667537,"date":"2022-10-01T07:22:41","date_gmt":"2022-10-01T11:22:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1667537"},"modified":"2022-10-01T07:22:51","modified_gmt":"2022-10-01T11:22:51","slug":"warren-buffet-buys-nearly-6-million-more-occidental-shares","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/warren-buffet-buys-nearly-6-million-more-occidental-shares\/","title":{"rendered":"Warren Buffet Buys Nearly 6 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%2Fwarren-buffet-buys-nearly-6-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=1667537&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>OMAHA, Neb.\u2014<a href=\"https:\/\/www.theepochtimes.com\/t-warren-buffett\">Warren Buffett<\/a>\u2019s company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21 percent of the oil producer.<\/p>\n<p>These are the first purchases Berkshire Hathaway has made since regulators gave it approval last month to buy up to 50 percent of Occidental, but since February Buffett has been consistently buying shares of the Houston-based company any time they drop below $60 apiece.<\/p>\n<p>Berkshire\u2019s Occidental stake is now worth nearly $12 billion after its shares nearly doubled this year after Russia invaded Ukraine and oil prices soared. Occidental\u2019s shares gained nearly 2 percent Thursday to sell for $62.52 after Berkshire disclosed its latest purchases in a filing with the Securities and Exchange Commission.<\/p>\n<p>Buffett\u2019s Omaha, Nebraska-based conglomerate has bet heavily on the oil sector this year. Besides its Occidental purchases, Berkshire bought roughly $20 billion worth of Chevron shares.<\/p>\n<p>Berkshire\u2019s Occidental purchases have inspired speculation that Buffett might try to buy the entire company, but Buffett doesn\u2019t generally comment on Berkshire\u2019s stock purchases beyond what it is required to disclose. Many investors follow Buffett\u2019s moves closely because of his remarkably successful track record over the decades.<\/p>\n<figure id=\"attachment_4598754\" class=\"wp-caption alignnone\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/07\/1.download-98-1200x840.jpg\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-4598754\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/07\/1.download-98-1200x840.jpg\" alt=\"Warren Buffett\" width=\"640\" height=\"448\" \/><\/noscript><\/figcaption><\/a> Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., on May 5, 2019. (Nati Harnik\/AP Photo)<\/figure>\n<p>Berkshire could quickly boost its Occidental stake because it holds warrants to buy another 83.9 million shares at $59.62 apiece. Buffett\u2019s company also owns $10 billion worth of preferred Occidental shares that pay an $800 million annual dividend. It acquired both of those in 2019 when it helped finance Occidental\u2019s acquisition of Anadarko.<\/p>\n<p>In addition to investments, Berkshire owns more than 90 companies outright including BNSF railroad, Geico insurance, several major utilities and an eclectic assortment of other companies such as Dairy Queen, NetJets and Precision Castparts.<\/p>\n<p><em>By Josh Funk<\/em><\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-associated-press\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP-logo-square-1080.jpg\" alt=\"The Associated Press\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>OMAHA, Neb.\u2014Warren Buffett\u2019s company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21 percent of the oil producer.These are the<\/p>\n","protected":false},"author":1,"featured_media":1667539,"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-1667537","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\/1667537","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1667537"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1667537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1667539"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1667537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1667537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1667537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}