Berkshire Hathaway Increases Stake in Occidental Petroleum Amid Oil Price Weakness
Go Smart Money
February 12, 2025
GoGPT Summarizes Articles
$BRK.A Berkshire Hathaway Inc has increased its stake in $OXY Occidental Petroleum Corporation as the latter's shares traded near two-year lows, according to a filing by Warren Buffett's hedge fund on Tuesday evening.
In early February, Berkshire acquired an additional 763,017 shares in Occidental at $46.8195 per share, totalling $35.7 million. This purchase brings Berkshire's total holdings in Occidental to 264.9 million shares.
The move coincides with Occidental's recent stock price weakness, driven by industry-wide challenges due to declining oil prices. In December, Berkshire had also added more Occidental shares during a similar market trend.
Occidental's stock has declined by 2.4% in 2025, nearing its lowest levels in two years. It stands as Buffet's sixth-largest holding, with its consistent dividends being a key investment factor. Buffett has clarified that a complete takeover of the Houston-based oil company is not on the cards.
Recent drops in oil prices can be attributed to President Trump's plans to boost domestic energy production, leading to expectations of looser markets in the future. Concerns over reduced demand, following Trump's tariff increases and their potential impact on economic growth and oil consumption, have also weighed on crude prices.
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