伯克希尔此前还拥有价值100亿美元的西方石油优先股，并拥有以每股59.62美元的价格购买另外8390万普通股的认股权证。这些认股权证是伯克希尔2019年帮助融资西方石油收购阿纳达科石油公司的交易时获得的。According to regulatory documents, Warren Buffett's Berkshire Hathaway has been increasing its holdings of Occidental Petroleum Corporation's stocks every trading day for the past nine days, bringing its stake close to 29%.
Specifically, from June 5th to this Monday on June 17th, Berkshire Hathaway has been buying Occidental Petroleum's stocks every trading day, gaining a total of 7.3 million shares with an average purchase price of around $60 per share.
The latest increase brings Berkshire Hathaway's total holdings of Occidental Petroleum to over 255 million shares, which is 28.8% of the company's total shares. Occidental Petroleum is Berkshire Hathaway's sixth largest stock holding, and Berkshire Hathaway is now the largest institutional investor of Occidental Petroleum.
Previously, Berkshire Hathaway also owned preferred shares worth $10 billion in Occidental Petroleum, as well as warrants to purchase an additional 83.9 million common shares at a price of $59.62 per share. These warrants were obtained by Berkshire Hathaway in 2019 when it helped finance Occidental Petroleum's acquisition of Anadarko Petroleum Corporation.
On Tuesday, Occidental Petroleum's stock price rose over 1%, breaking through $61 per share during trading hours, making Buffett's warrants "in the money". Redeeming the preferred shares in full would bring Berkshire Hathaway's holdings in Occidental Petroleum to over 40%.
Berkshire Hathaway previously obtained regulatory approval to purchase up to 50% of Occidental Petroleum's shares, but Buffett later clarified that he would not seek complete control of the company.
Regarding his investment in Occidental Petroleum, Buffett once said that he took advantage of the market's high volatility in early 2022 and acquired 14% of the energy company's shares worth over $7 billion in just two weeks. "It's incredible. You can't do this with Berkshire Hathaway. In the United States, most large companies have become chips. Imagine trying to buy 14% of all farms in America, 14% of all apartment buildings, 14% of all car dealerships, or anything else, when 40% is already locked up elsewhere."