By Staff

Warren Buffett's Berkshire Hathaway used the recent weaknesses in oil stocks, related to President Biden's attacks on the sector and recession worries, to add more Occidental Petroleum (NYSE:OXY) stock.

In an SEC filing Wednesday evening, Berkshire disclosed it bought another 9.55 million shares at prices from $54.96-$56.42 per share.

The value of the latest purchase was over $500 million.

The latest purchase brings the firm's stake to 152,713,846 shares. Berkshire also owns warrants that cover another 83,858,848 shares, with an exercise price of $59.62, and 100,000 preferred shares.

Shares of Occidental are down 21% since the start of June.

By Geoffrey Smith -- Darden Restaurants (NYSE:DRI) stock rose in premarket on Thursday after the company raised its dividend by 10% as demand for eating out surged...

By Mimosa Spencer and Jacob Gronholt-Pedersen PARIS/COPENHAGEN (Reuters) -U.S. sportswear maker Nike (NYSE:NKE) is making a full exit from Russia, three months after suspending...

(Reuters) -IT services company Accenture (NYSE:ACN) Plc forecast fourth-quarter revenue below expectations and tempered its fiscal 2022 profit forecast on Thursday, threatened by...

Tap to copy the Short Url to this post: 
One-Stop Business News. Free to Use →