Berkshire Hathaway Boosts Occidental Petroleum Stake to Nearly 29%

Warren Buffett's firm acquires additional shares, solidifying its position as the largest institutional investor in the oil company.

Berkshire Hathaway purchased 2.9 million more shares of Occidental Petroleum, raising its total stake to about 29%.
The latest acquisition brings Berkshire's holdings in Occidental to approximately 255 million shares, valued at $15.37 billion.
Berkshire has been buying shares for nine consecutive trading days, with purchase prices around $60.
Warren Buffett clarified he does not plan to take full control of Occidental, despite regulatory approval to buy up to 50%.
Berkshire also holds warrants to purchase an additional 83.9 million shares and owns $10 billion in Occidental preferred stock.