Buffett -- OXY tracked here.
Occidental Petroleum shares jumped higher Monday after billionaire investor Warren Buffett added to both his stake in the oil major and speculation that he may be preparing to buy at least half of its outstanding stock.
Buffett boosted his holding in Occidental, which he has been adding to for most of the year, to 26.8%, according to Securities & Exchange Commission filings from late last week, after buying an additional 51.99 million shares. The move came shortly after the Federal Energy Regulatory Commission (FERC) said in late August that Berkshire Hathaway's additional investment in Occidental was "consistent with the public interest", giving Buffett the nod to purchase "up to 50%" of the oil major's common shares.
September 11, 2022: IBD repeats the story. Link here.
Berkshire Hathaway now owns 26.8% of Occidental Petroleum, according to a regulatory filing Friday night, September 9, 2022.
That came exactly one month after Warren Buffett's firm disclosed its OXY stock stake had reached 20.2%. Crossing the 20% ownership level means Berkshire Hathaway can record Occidental earnings on its books.
The Federal Energy Regulatory Commission has given Berkshire Hathaway permission to buy up to 50% of Occidental Petroleum. That's according to an order made public on August 19, 2022. Berkshire made the request on July 11, 2022.
Original Post
There is some question whether this article is "exactly" accurate. It depends on the definition of "stake" -- actual or potential -- "actual ownership" or "actual ownership plus warrants."
See this thread to see where disagreement exists.
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