Warren Buffett's flagship company$Berkshire Hathaway-A (BRK.A.US)$Continuing shareholding$Occidental Petroleum (OXY.US)$Stocks, purchased at slightly above $60 per share on June 10th, 11th, and 12th, with an additional 1.75 million shares worth approximately $105 million. Prior to this, Berkshire Hathaway had already purchased 2.6 million shares of Occidental Petroleum stock last week, totaling over 252.3 million shares and accounting for nearly 28.5%.
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Berkshire Hathaway's position in Occidental Petroleum Company is currently valued at over $15 billion, accounting for 4.6% of its total investment portfolio, but Buffett said that he has no intention of buying the entire company, and may be taking advantage of the recent decline in Occidental Petroleum Company's stock price. The company's stock price has reached a three-month low, closing at $60.30 on Wednesday, far below the intraday high of $71.19 in April.
Prior to this transaction, Occidental Petroleum and Berkshire Hathaway's energy division also announced the establishment of a new joint venture last Tuesday to extract and commercialize lithium from Berkshire's geothermal facilities in California.
Edited by Jeffrey