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Warren Buffett's Berkshire Hathaway scoops up Occidental and other stocks during sell-off

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Berkshire Hathaway bought over $560 million worth of stocks over the last three sessions.

purchased additional 8.9 million shares in the Houston-based energy producer for $405 million through transactions Tuesday, Wednesday and Thursday, pushing its stake above 28%, according to a regulatory filing late Thursday night.for roughly $45 million. These two stakes are much smaller in size, so these transactions could be made by Buffett's investing lieutenants Todd Combs and Ted Weschler.>Sign up for NBC DFW's News Headlines newsletter.

Occidental shares have dropped more than 10% this month, bringing its 2024 losses to 24%. The energy company, once known for being founded by legendary oilman Armand Hammer, is Berkshire's sixth-biggest equity holding. Buffett has ruled out a full takeover.

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Fonte: CNBC - 🏆 12. / 72 Leggi di più »