Tag: $Occidental Petroleum

Berkshire Hathaway  purchased more Occidental Petroleum  stock in recent days and now holds a roughly 29% stake in the energy company, worth $15.4 billion.

Occidental Petroleum posted a decline in revenue in its latest quarter, though the results came in well ahead of Wall Street’s estimates.

Occidental Petroleum  stock has been under pressure recently, and Berkshire Hathaway has capitalized on that weakness by adding to its large holding in the energy company.

Occidental Petroleum Corp.’s was down 1.5% in premarket trading on Monday after the oil company said it would pay $12 billion for privately held Permian Basin oil and gas producer CrownRock L.P., which is a joint venture of CrownQuest Operating LLC and Lime Rock Partners.

The race to snap up oil and gas assets is gaining steam on a report that Occidental Petroleum OXY is close to buying a U.S. shale company.

Berkshire Hathaway bought 2.1 million shares of Occidental Petroleum OXY in recent days, lifting its stake in the big energy company to just over 25%, according to a filing late Wednesday.

Berkshire Hathaway continued to buy more Occidental Petroleum stock in recent days, purchasing about $200 million and lifting its stake in the big energy company to $12.7 billion.

U.S. oil and gas producer Occidental Petroleum Corp on Tuesday reported a 48% decline in first-quarter earnings that fell well short of analyst estimates as global economic growth concerns led to a decline in oil prices.