Occidental Petroleum (OXY) Stock: Why The Price Jumped Up Over 7%

By Amit Chowdhry ● May 13, 2022
  • The stock price of Occidental Petroleum Corporation (NYSE: OXY) jumped up by over 7% during intraday trading today. This is why.

The stock price of Occidental Petroleum Corporation (NYSE: OXY) jumped up by over 7% during intraday trading today. Investors are responding positively to Warren Buffett’s holding company Berkshire Hathaway buying 901,768 shares of the company spread out across two purchases this week. 

This deal was valued at about $52 million total according to a regulatory filing. Berkshire Hathaway first bought 716,355 shares at $57.32 per share on Tuesday. And then the company bought 185,419 shares at a price of $57.34 a share on Thursday. 

Now Berkshire Hathaway owns 143.16 million shares of Occidental Petroleum. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.