Berkshire Hathaway Inc (NYSE:BRK.B) increased its stake in Occidental Petroleum to 20% - meaning Warren Buffet's conglomerate could include the hydrocarbon explorer's earnings in its own results
The ownership milestone gives Berkshire the option to count some of Occidental's profits as its own, boosting its bottom line.
Despite investing more than $62 billion in this stock since 2018, you won't find it in Berkshire Hathaway's quarterly 13F filing.
Another SEC filing released on August 8 showed that Warren Buffett's Berkshire Hathaway (NYSE: BRK.
Warren Buffett's Berkshire Hathaway Inc bought more shares of Occidental Petroleum Corp, surpassing the 20% stake where it could record some of the oil company's earnings with its own and potentially
Warren Buffett went bargain hunting with both fists in the second quarter, scooping up billions of dollars worth of equities amid the broader market's steep selloff. Berkshire Hathaway (BRK.B, $292.07
The company's operating earnings rose 39% in the second quarter but buybacks totaled just $1 billion and were low in July as well.
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