• 2 months ago
Shares of Occidental Petroleum have plummeted 29% since mid-April, impacting Warren Buffett‘s substantial investment in the company.

What Happened: Chris Bloomstran, fund manager at Semper Augustus, suggested that while Buffett might buy more shares, he is unlikely to take over the company. Bloomstran noted that Buffett prefers Occidental to initiate a stock buyback program, which CEO Vicki Hollub has said will only happen after significant debt reduction, Business Insider reported on Friday.

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