Skip to Main Content.
Site navigation
Fidelity.com Home
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log Out
  • Accounts & Trade
    • Portfolio Log In Required
    • Portfolio
    • AccountPositions Log In Required
    • AccountPositions
    • Trade Log In Required
    • Trade
    • Trading Dashboard Log In Required
    • Trading Dashboard Log In Required
    • Active Trader Pro
    • Transfers
    • Cash Management Log In Required
    • Cash Management
    • Bill Pay Log In Required
    • Bill Pay
    • Full View Log In Required
    • Full View
    • Security Settings Log In Required
    • Security Settings
    • Account Features Log In Required
    • Account Features
    • Statements Log In Required
    • Statements
    • Fidelity Alternative Investments Program Log In Required
    • Tax Forms & Information
    • Retirement Distributions Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • New Account Checklist Log In Required
    • Lending Solutions-Line of Credit Log In Required
    • Refer a Friend
  • Planning & Advice
    • What We Offer
    • Build Your Plan
    • My Goals
    • Financial Basics
    • Building Savings
    • Robo Investing Plus Financial Advice
    • Wealth Management
    • Find an advisor
    • Retirement
    • Life Events
    • Saving & Investing for a Child
    • Charitable Giving
    • Philanthropic Consulting
  • News & Research
    • News
    • Wealth Management Insights
    • Watch List Log In Required
    • Quotes
    • Quotes
    • Alerts Log In Required
    • Mutual Funds
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Markets & Sectors
    • IPOs
    • Annuities
    • Learning Center
    • Notebook
    • Notebook
  • Investment Products
    • Mutual Funds
    • Retirement & IRAs
    • Stocks and Trading
    • Crypto
    • Direct Indexing
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Sustainable Investing
    • Cash Management & Credit Cards
    • Managed Accounts
    • 529 College Savings
    • Health Savings Accounts
    • Annuities
    • Life Insurance & Long Term Care
  • Why Fidelity
    • The Fidelity Advantage
    • Planning & Advice
    • Trading
    • Straightforward Pricing
    • Insights & Tools
    • Security & Protection
    • Marketplace Solutions
    • About Fidelity
    • Careers
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log Out
Content and data provided by various third parties and Fidelity − Terms of Use
  • Research >
  • Stocks >
  • News & Events >

Stock Details


  • Snapshot
  • Detailed Quote
  • Advanced Chart &
    Technical Analysis Opens in New Window
  • News & Events
  • Compare
  • Analyst Opinions
  • Research Reports
  • Key Statistics
  • Earnings
  • Dividends
  • Ownership & Insiders
  • Financial Statements
  • SEC Filings

RELATED RESOURCES

  • Stock Research Overview
  • Stock Screeners
  • Markets & Sectors
  • Fidelity Learning Center Opens in New Window
Print Format
Change Text Size:
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

Buffett's Berkshire buys more Occidental shares, raises stake to about 16.4%

BY Reuters
— 4:07 AM ET 06/28/2022

(Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRK/A) said on Monday it has purchased another 794,389 shares of Occidental Petroleum Corp (OXY), giving the conglomerate a nearly 16.4% stake in the Houston, Texas-based oil company.

The purchases were made in multiple transactions and cost about $44 million, Berkshire said in a regulatory filing. The share purchases come nearly a week after Berkshire bought 9.6 million Occidental shares.

Berkshire, the largest individual shareholder in Occidental, now owns about 153.5 million shares worth about $9.04 billion, based on Occidental's Monday close.

Occidental's share prices are currently up nearly 90% this year, as the company benefited from Berkshire's purchases and an oil price surge following Russia's invasion of Ukraine.

The company also owns options to buy another 83.9 million Occidental shares, which if exercised, would bring its stake to more than 25%.

Berkshire has been on a spending spree this year.

It spent $51.1 billion on equities in the first quarter, including an increased $25.9 billion stake in oil company Chevron Corp. (CVX)

Berkshire has also this year announced large investments in video game maker Activision Blizzard Inc (ATVI) and computer and printer maker HP Inc (HPQ), and a planned $11.6 billion takeover of insurance company Alleghany Corp. (Y)

(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Sherry Jacob-Phillips)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More CVX News

  • Buffett's Berkshire buys more Occidental shares, raises stake to about 16.4%
    Reuters - 4:01 AM ET 06/28/2022
  • After Tesla, This Oil Giant Is Shifting Majority Of Employees From California To Texas
    Benzinga - 4:32 PM ET 06/25/2022
  • Benzinga Bulls And Bears Of The Week: Apple, Tesla, Netflix, Chevron And This Leading Chipmaker
    Benzinga - 9:26 AM ET 06/25/2022
Fidelity Investments. Copyright 1998–2022 FMR LLC. 
All rights reserved. 

  • Terms of Use|
  • Privacy|
  • Security|
  • Site Map 
Close