Warren Buffett Increases Position in the Gainer Stock Market

Warren Buffett Increases Position in the Gainer Stock Market

Berkshire Hathaway, of which investor Warren Buffett is the largest owner, consolidated its position with 794,389 shares of oil company Occidental Petroleum. Berkshire now owns about 16.4 percent of the company.

In March, Berkshire made several major acquisitions in the Texas-based oil company. At the beginning of April, Occidental ranked ninth among the company’s largest positions.

The value of the purchase now made is $44 million.

Stock market winner

Berkshire is Occidental’s largest shareholder, and now owns 153.5 million shares with a combined value of $9.04 billion, based on Monday’s closing price.

So far this year, Occidental has been one of the biggest winners on the New York Stock Exchange. Since January 1, the stock is up 90%, and the price is now $58.9 per share. The company benefited from high oil prices as a result of the Russian invasion of Ukraine.

Berkshire also has 83.9 million purchase options, which, if exercised, would give a total ownership stake of more than 25 percent of the oil company.

He buys

Berkshire Hathaway has really taken over so far this year. During the first quarter, the investment firm bought shares for $51.1 billion, including $25.9 billion worth of shares in oil company Chevron.

Berkshire has also invested heavily in gaming company Activision Blizzard and computer maker HP.

Berkshire Hathaway is down just over 8 percent so far this year.

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Dalila Awolowo

Dalila Awolowo

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