U.S. markets close in 29 minutes
  • S&P 500

    3,755.43
    -27.85 (-0.74%)
     
  • Dow 30

    29,993.25
    -280.62 (-0.93%)
     
  • Nasdaq

    11,105.91
    -42.73 (-0.38%)
     
  • Russell 2000

    1,751.87
    -10.82 (-0.61%)
     
  • Crude Oil

    88.76
    +1.00 (+1.14%)
     
  • Gold

    1,722.60
    +1.80 (+0.10%)
     
  • Silver

    20.69
    +0.15 (+0.71%)
     
  • EUR/USD

    0.9801
    -0.0083 (-0.84%)
     
  • 10-Yr Bond

    3.8260
    +0.0670 (+1.78%)
     
  • GBP/USD

    1.1156
    -0.0166 (-1.46%)
     
  • USD/JPY

    145.0380
    +0.4280 (+0.30%)
     
  • BTC-USD

    20,049.37
    -172.15 (-0.85%)
     
  • CMC Crypto 200

    455.99
    -7.13 (-1.54%)
     
  • FTSE 100

    6,997.27
    -55.35 (-0.78%)
     
  • Nikkei 225

    27,311.30
    +190.80 (+0.70%)
     

Berkshire Now Holds 20% of Occidental Petroleum

·2 min read
Berkshire Now Holds 20% of Occidental Petroleum

Berkshire Hathaway now owns just over 20% of Occidental Petroleum after about $400 million in fresh purchases of the energy company in recent days, according to a filing late Monday. With a 20.2% stake, Berkshire Hathaway (ticker: BRK/A, BRK/B) should be able to include a proportionate amount of the earnings of Occidental Petroleum (OXY) in its financial results, lifting annual earnings by about $2 billion off a current base of more than $30 billion. Berkshire CEO Warren Buffett has steadily accumulated Occidental stock this year and Berkshire now holds 188.4 million shares in the domestic-focused oil and gas producer, whose earnings have surged this year with oil and gas prices.