Warren Buffett’s Berkshire Hathaway has increased its holdings in Occidental Petroleum (OXY) and SiriusXM Holdings (SIRI). According to regulatory filings, the investment firm bought 8.9 million shares of OXY and 5.0 million shares of SIRI between Monday and Wednesday this week.
The purchases came as both companies hit their lowest levels of 2024 on Friday. Shares of OXY advanced about 4.5% after Berkshire’s addition, while SIRI rose around 10%. The price range for the OXY shares was $45.55 to $46.92 per share, and for SIRI shares was $20.85 to $22.49.
This latest move by Buffett likely aims to take advantage of the “dips” in the companies’ stock prices. OXY has fallen 20% so far this year, while SIRI has dropped nearly 60%. The acquisitions bring Berkshire’s total holdings to 264.2 million common shares and 84,897 preferred shares for OXY, as well as 117.5 million shares of SIRI.
Source: https://www.investopedia.com/warren-buffett-berkshire-hathaway-adds-to-holdings-of-occidental-petroleum-siriusxm-8764902