Berkshire Hathaway – Oil & Gas 360

Berkshire increases Occidental Petroleum stake to nearly 29%

June 18, 2024

Yahoo Finance Berkshire Hathaway, led by billionaire Warren Buffett, has raised its ownership in Occidental Petroleum to just under 29%, reported Reuters, citing a regulatory filing. The move follows the acquisition of an additional 2.95 million shares, as revealed by a regulatory filing. The filing with the US Securities and Exchange Commission indicated that Berkshire Hathaway invested around $176m for the

Berkshire Hathaway boosts its stake in Occidental Petroleum to over 23%

March 16, 2023

Oil Price Berkshire Hathaway, the investment vehicle of Warren Buffett, has bought another batch of shares in Occidental Petroleum, pushing its total stake to 23.1 percent. Citing a regulatory filing, Reuters reported the investment company had bought 7.9 million shares in Occidental, paying $466.68 million for them. Earlier this month, Berkshire again bought Oxy stock, at around 5.8 million shares, for which it

Warren Buffett’s Berkshire Hathaway buys more Occidental Petroleum shares

March 8, 2023

CNBC Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions, a regulatory filing revealed Tuesday evening. The Omaha, Nebraska-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in a range from $59.85 to $61.90, the filing showed. The latest purchase, totaling more than

What’s behind Buffett’s renewed interest in Occidental?

August 30, 2022

Oil Price By David Messler Warren Buffett, through Berkshire Hathaway Inc., (NYSE:BRK.A), (NYSE:BRK.B) has been quietly amassing a significant stake in Occidental Petroleum, (NYSE:OXY). As of early August, he had acquired a 20% stake in the common shares of OXY, arousing speculation about what his true plans were. On Friday the 19th of August the Federal Energy Regulatory Commission-FERC, granted approval to

Berkshire Hathaway approved to buy up to half of Occidental Petroleum

August 22, 2022

World Oil Warren Buffett’s Berkshire Hathaway Inc. won approval from U.S. regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months acquiring its shares. Occidental’s shares surged on news of the authorization. Berkshire applied to the Federal Energy Regulatory Commission for the approval on July 11, according to a filing published Friday. “It is concluded that

Berkshire Hathaway reveals $5 bln Occidental stake as Icahn exits

March 7, 2022

CNBC In his annual letter to shareholders released less than one week ago, Warren Buffett complained he could “find little that excites us” in the equity markets. However a new SEC filing from Friday night revealed that someone at Berkshire Hathaway, either Buffett himself or his portfolio managers, is very excited about Occidental Petroleum. As of Friday, Berkshire owns 91.2 million common shares of the

Dominion Energy, Warren Buffett’s Berkshire Hathway Energy terminate Questar Pipeline sale

July 12, 2021

Fox Business Dominion Energy and Warren Buffett’s Berkshire Hathaway Energy have agreed to terminate a planned sale of Questar Pipelines. Dominion cited “ongoing uncertainty associated with achieving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976” as the reason for the termination. Representatives for the FTC and Berkshire Hathaway Energy declined to comment further. Dominion said Monday’s announcement has no impact on

Options trader bets nearly $500,000 on a big turnaround for one energy name

August 19, 2020

CNBC It’s no secret how hard integrated oil names have been hit this year due to the global economic consequences of the coronavirus pandemic, and Occidental Petroleum has been among the worst hit of all the companies in the space. The stock has lost more than 60% of its value since the beginning of the year, leading Warren Buffett’s Berkshire Hathaway to liquidate its stake in

Berkshire Hathaway to accept Occidental shares instead of cash dividends

April 15, 2020

Reuters Occidental Petroleum said on Wednesday billionaire Warren Buffett’s Berkshire Hathaway Inc had agreed to accept common shares of the oil producer instead of cash dividends for preferred stock. Berkshire last year bought $10 billion worth of Occidental’s preferred shares to help finance its acquisition of Anadarko Petroleum. Berkshire plans to sell the common shares, Occidental said in a regulatory

For investors shaken by Dow plunge, Warren Buffett’s new advice on finding long-term market winners

February 26, 2020

CNBC Lost in the hoopla over Berkshire Hathaway chairman and CEO Warren Buffett’s latest annual shareholder letter this past weekend was an implicit warning to the finance executives and managers who run corporate America: Now is the time to be investing profits in the business, while inflation is low. Source: CNBC It may not have the glamour of speculating about the Oracle of Omaha’s

Buffett’s Betting on Oil, and He’s Rarely Wrong

May 29, 2019

From Forbes – George Schultze I’ve long been a believer that there’s always opportunity in the energy field, if you know where to look for it. With his recent commitment of $10 BN to help Occidental acquire Anadarko, Warren Buffett appears to be of the same mind. And history has shown that many investors have done well by following the

Dow jumps 350 points to start week, S&P 500 inches closer to all-time high- oil and gas 360

Berkshire To Make $10 Billion Investment In Occidental To Finance Anadarko Bid

April 30, 2019

From The Wall Street Journal Warren Buffett’s Berkshire Hathaway Inc. agreed to inject $10 billion into Occidental Petroleum Corp.’s bid to acquire Anadarko Petroleum Corp. and fight off Chevron Corp. Last week, Houston-based Occidental offered to purchase Anadarko for $38 billion, topping the $33 billion that Chevron agreed to pay for the company. The two sides are battling over prized energy assets in the heart of the U.S. oil boom in

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