One of Berkshire Hathaway’s best investments in the past five years was its purchase of $10 billion of Occidental Petroleum preferred stock paying an 8% dividend yield.
Occidental Petroleum (ticker: OXY) could soon be in position to start redeeming that high-cost preferred, which was sold to Berkshire in the spring of 2019. At the time, Occidental CEO Vicki Hollub needed a lot of money quickly to help the company win a bidding war against the much-larger Chevron (CVX) for Anadarko Petroleum.
Source: finance.yahoo.com
Related posts:
Wall Street’s Best Analyst Turns Bullish on These 2 Stocks
U.S Mortgage Rates Rise for a Seventh Consecutive Week
Super Micro stock plunges after company delays annual report following short-seller report
A potential stock-market catastrophe in the making: The popularity of these risky option bets has Wa...
Stock Skeptics Say $6 Trillion Cash Waiting on Sidelines Is a Mirage