Berkshire Hathaway Reveals $5 Billion Occidental Stake as Icahn Exits

Berkshire Hathaway Reveals $5 Billion Occidental Stake as Icahn Exits
The Occidental Petroleum logo is displayed on a screen at the New York Stock Exchange (NYSE) in New York on April 30, 2019. Brendan McDermid/Reuters
Reuters
Updated:

Warren Buffett’s Berkshire Hathaway Inc. revealed a more than $5 billion stake in Occidental Petroleum Corp., as oil prices soared to their highest level in about a decade.

Berkshire said it owns 91.2 million Occidental shares, or nearly 10 percent of those outstanding, including 61.4 million bought from March 2 to March 4.