Oil Price Berkshire Hathaway (BRKA: BRKB) has expanded its stake in Occidental Petroleum (OXY) with a purchase of another 3.9 million shares this week, according to a Securities and Exchange Commission regulatory filing. Warren Buffet’s holding company now owns 25.8% of the Houston-based oil company, for a value of more than $14 billion, after purchasing 1,686,368 shares at a weighted
World Oil In something of a reversal in trends, Occidental Petroleum has started buying back preferred stock it transferred to Warren Buffett’s Berkshire Hathaway in exchange for its financial backing for the Anadarko takeover. The news comes just as Buffett said earlier this week he was not seeking to take control of the oil and gas major. “We don’t know where the
Oil Price Warren Buffett’s Berkshire Hathaway will not be seeking full control of Occidental Petroleum (NYSE:OXY) despite having amassed a stake of over 23%, the Omaha investor said at Berkshire’s annual shareholder meeting this weekend. Shares in Oxy dropped in pre-market trade in New York on Monday after Buffett rebuffed speculation that he would seek control of the oil company. “We don’t
Oil Price Warren Buffett’s Berkshire Hathaway bought shares in Occidental Petroleum for the third time this month, boosting its stake in the company to 23.6 percent. The investment firm paid $216 million for the shares, which it bought on two separate days, Reuters reported, citing a regulatory filing. The purchase follows a series of three stock purchases worth $350 million in early
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
Oil Price For decades, Berkshire Hathaway (NYSE:BRK.B) Chairman and CEO Warren Buffett maintained a pretty conservative approach to investing, favoring retail and banking stocks while giving a wide berth to more volatile sectors such as tech and energy. In fact, big American banks have been Warren Buffett’s favorite investment because they are part of the infrastructure of the country, a
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
CNBC With the coronavirus pandemic slashing demand for the oil and gas that has been booming in the U.S. shale during the past decade, energy pipeline development has stalled. The midstream portion of the energy complex, as it is known, may not recover soon, but it will recover, according to energy experts, and none other than Warren Buffett — who has been
The Motley Fool Oil & Gas 360 Publisher’s Note: This is an opinion piece and we do not endorse outside opinions. That said, it is an interesting read. The World Health Organization (WHO) officially declared the coronavirus as a pandemic on March 11, 2020. Global stock markets are crashing as the number of confirmed cases crosses the 120,000 mark. A significant downturn
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
From Bloomberg Meet Warren Buffett, everybody’s new favorite banker. The investing guru’s conglomerate, Berkshire Hathaway Inc., announced a deal on Tuesday, but not the kind Buffett’s fans have been awaiting. Instead of taking over a company, Berkshire is helping one business go after another. It’s investing $10 billion in Occidental Petroleum Corp. to finance the oil producer’s $55 billion acquisition of Anadarko
For now, Wall Street has turned off the shale funding spigot By Bevo Beaven, Editor, Oil & Gas 360, with Richard Rostad, Analyst Oil and gas funding is evolving. Initial public offerings, secondaries and follow-on equity raises are no longer an easy-to-turn-on cash spigot that sits ready to fill the bank accounts of public exploration and production (E&P) companies with
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