Warren Buffett's Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%

Benzinga

Warren Buffett’s Berkshire Hathaway has been steadily increasing its stake in Occidental Petroleum over the past nine trading sessions, bringing its ownership to nearly 29%, according to regulatory filings. This positions Occidental as Berkshire's sixth-largest holding, making it its largest institutional investor. Buffett began investing in Occidental after being impressed by the company's earnings conference call, praising CEO Vicki Hollub's management. Occidental offers a 1.5% dividend yield and has maintained a stable stock price this year, following a 5% decline in 2023. Buffett took advantage of market volatility in early 2022 to acquire a significant portion of the company rapidly.

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00:00It's Benzinga, and here's what's on the block.

00:02Warren Buffett's Berkshire Hathaway has been steadily increasing its stake in Occidental

00:06Petroleum over the past nine trading sessions, bringing its ownership to nearly 29% according

00:12to regulatory filings.

00:14This positions Occidental as Berkshire's sixth-largest holding, making it the company's

00:18largest institutional investor.

00:21Buffett began investing in Occidental after being impressed by the company's earnings

00:24conference call, praising CEO Vicky Hollum's management.

00:28Occidental offers a 1.5% dividend yield and has maintained a stable stock price this year

00:33following a 5% decline in 2023.

00:37Buffett took advantage of market volatility in early 2022 to acquire a significant portion

00:42of the company rapidly.

00:43For all things money, visit Benzinga.com.

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