Warren Buffett raises Occidental Petroleum’s stake after receiving regulatory approval to buy 50%

Dow Jones futures: what to do when the market rally dips;  Warren Buffett explodes outside the base

Warren Buffett bought more Occidental Petroleum (OXY) after his share Berkshire Hathaway (BRKB) obtained regulatory approval to purchase up to 50%. OXY stock rose slightly late Friday.




X



Berkshire Hathaway now owns 26.8% of Occidental Petroleum, according to a regulatory report Friday night. It came exactly one month after Warren Buffett announced that its stake in OXY had reached 20.2%. Crossing the 20% ownership level means Berkshire Hathaway can record Occidental’s earnings on its books.

The Federal Energy Regulatory Commission has given Berkshire Hathaway permission to buy up to 50% of Occidental Petroleum. This is according to an order announced in August. 19. Berkshire submitted the application on 11 July.

There is speculation that Berkshire may choose to buy the entire Occidental The Wall Street Journalciting sources, reported last month that Warren Buffett is unlikely to do so.


Join IBD experts as they analyze actionable stock market actionable shares on IBD Live


OXY stock rises on Buffett’s purchases

OXY stock was up 1.6% in late trading on Friday. Over the course of the week, Occidental Petroleum fell 4.6% to 65.61, although it found support at the 50-day moving average.

OXY stock broke from A cup base with handle strongly in August. 19 in the news that Buffett has agreed to buy 50% of the company. Shares soared to a record high of 77.13 on August 1st. 29, but we’ve now crossed all those gains from 66.26 buy point.

Occidental stock has held up better than many oil producers over the summer, thanks to Warren Buffett’s steadily adding to the stock. But OXY stock came under pressure as crude oil prices fell dramatically.

Meanwhile, BRKB stock rose 2.9% to 285.77 last week. It came after three weekly declines, to start a major reversal from the 200-day moving average.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

You may also like:

The market rally is stronger than it appears; Five stocks in the buying areas

These are Warren Buffett’s hottest stocks right now

Warren Buffett stocks: MSFT and GOOGL are among 24 names on this screen

Why simplify this IBD tool burntthe classroom top stock

Elon Musk comes for another reason to end the $44 billion Twitter deal

Leave a Reply

Your email address will not be published. Required fields are marked *

redtubetamil pornude.mobi freeindianporn
horse sex clips wetwap.info bp
kannar booketube.mobi lunki
the boobay and tekla show tvteleserye.net a family affair august 3
indian fuc zambibo.mobi vasxxx
kannada fuck video porncorntube.net old movies telugu
blood sex movie momyporn.mobi keralasexygirls
arram full movie sfico.info beegcom
xxxxxxvibeo captaintube.info hot indian xvideos
the broken marriage vow may 6 2022 full episode superpinoy.net gmanetwork com maria clara at ibarra
vijayawada sex com dunato.mobi www.indian sex vedios.com
indian deshi sex indianhottube.com boor sexy
sister cleaire hentai-site.net dressblackheulee
نيك اغتصاب عنيف freearabianporn.com اجمل نيك فى الطيز
xhamster incest hotindianporn.mobi sivi tamil movie free download