Warren Buffett's Berkshire Hathaway buys $275 million more Occidental Petroleum stock amid ongoing slide in oil prices
Berkshire purchased 4.66 million shares of the Houston-based oil producer for about $275 million. The purchases took place between May 25 and May 30 at a weighted average price of about $58.57 per share. Occidental Petroleum stock fell 1.4% on Wednesday to $57.79.
The latest stock buys increased Berkshire Hathaway's total stake in Occidental Petroleum to about 222 million shares, or about 24.9% of the entire company. Berkshire also owns nearly $10 billion of the company's preferred stock, as well as warrants that give it the right to buy $5 billion worth of stock at a fixed price.
Buffett probably isn't done building his stake in the company, given that Berkshire Hathaway has received the green light from regulators
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Warren Buffett's Berkshire Hathaway boosts stake in Occidental Petroleum to about 25%Berkshire bought 4.66 million shares of Occidental between May 25 and May 30, paying roughly $275 million in all.
Leer más »
Jewel's 'disrespectful' national anthem joins Roseanne Barr, Jimmy Buffett accused of 'butchering' songJewel is under fire after performing a more folksy take on the national anthem at the Indianapolis 500, joining a long list of celebrities who have made waves with the song.
Leer más »
Club for Growth favorite Warren Davidson passes on run for Senate in OhioRep WarrenDavidson, a club4growth favorite, has decided not to run for Senate in Ohio in what is expected to be a costly and bruising primary next year. Davidson, who replaced former SpeakerBoehner in 2016, would have entered a wealthy GOP field.
Leer más »
U.S. Sen. Elizabeth Warren Calls for Shutdown of Crypto Funding for Fentanyl.SenWarren wants to shut off the pipeline of crypto-funded fentanyl chemicals from China, and Treasury’s RosenbergEliz says Chinese companies like crypto for the same reasons criminal cartels do. jesseahamilton reports
Leer más »
Sen. Elizabeth Warren points to crypto payments as facilitating fentanyl trade in ChinaImagine using crypto not for buying digital art, but for fentanyl. Sen. Warren spots the trend, citing a 450% jump in transactions from an Elliptic report. Fasten your seatbelts, regulation is reloading.
Leer más »
Paramount’s cast addition hints at exciting finaleByron Trott’s firm is joining scion Shari Redstone and billionaire Warren Buffett as a backer of the $10 bln media empire. Its capital infusion should help ease debt concerns for the controlling shareholder. The banker’s family-business ties also dangle the prospect of a buyout.
Leer más »