Following up on Saturday's Oil & Gas Equities: "Love Is In The Air".
From Reuters via Yahoo Finance, July 18:
Warren Buffett's Berkshire Hathaway Inc on Monday said it has bought another 1.94 million shares of Occidental Petroleum Corp, putting it nearer a threshold where it could record some of the oil company's earnings with its own.
Berkshire's latest purchases from July 14 to July 16 cost $112 million, and gave Buffett's conglomerate a 19.4% Occidental stake worth about $10.9 billion, regulatory filings show.
If it reached 20% ownership, Berkshire could record its proportionate share of Houston-based Occidental's earnings, known as the equity method of accounting.
Analysts on average expect Occidental to post about $10.7 billion of net income this year, according to Refinitiv I/B/E/S....
....MUCH MORE
OXY common over the last year via BigCharts:
$60.05 up $1.34 at the close and adding another 46 cents after hours.
