Over the past few weeks, Warren Buffett's Berkshire Hathaway has revealed a substantial and growing position in the oil exploration and production company Occidental Petroleum.
The corporation has been aggressively acquiring stock in Occidental over the past couple of weeks. Following recent purchases, Berkshire now owns around $7 billion worth of the company's common stock.
It also owns preferred stock and warrants in the company, part of its deal to lend $10 billion to the group as part of its acquisition of Anadarko Petroleum in 2019.
A substantial holding
Including the recent equity purchases and the warrants to acquire 84 million shares at an exercise price of just under $60 per share, Berkshire now owns 136.4 million common shares in the company. However, based...
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