Warren Buffett's Berkshire Hathaway Inc bought another 5.99 million shares of Occidental Petroleum Corp, boosting its stake to 20.9% after the oil company's shares lost about a fifth of their value in less than a month. The purchases were made between Sept. 26 and Sept. 28 and cost about $352 million, Berkshire said in a regulatory filing on Wednesday. Following the purchases, Berkshire now owns about 194.4 million Occidental shares worth approximately $11.9 billion, based on Occidental's Wednesday closing price of $61.41.
Berkshire Hathaway B (BRK.B) closed at $265.53 in the latest trading session, marking a +0.46% move from the prior day.
University of North Carolina Kenan-Flagler Business School Associate Professor Jeffrey Hoopes joins Yahoo Finance Live to explain why the new 15% minimum corporate tax rate would hit companies like Amazon and Berkshire Hathaway the hardest.