Berkshire Hathaway raises stake in Occidental Petroleum

Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) has upped its stake in oil giant Occidental Petroleum (OXY) by buying up another 2.57 million shares last week. Yahoo Finance's Ines Ferré details the latest on Berkshire's position in the energy company.

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This post was written by Luke Carberry Mogan.

Video transcript

Finally, let's talk about the oracle.

Warren Buffett's Berkshire Hathaway doubling down on occidental.

Yeah, that's right.

Uh Berkshire Hathaway, still loving occidental petroleum.

We want to show you where the stock has been at.

Berkshire Hathaway bought 2.6 million shares between Wednesday and Friday of last week.

Now owning 250 million shares.

Now, Berkshire's stake in Occidental is up to 28% of the company.

Remember that Warren Buffett has said in the past that he doesn't want to own all of occidental or control it all, but they have been upping their stake in it.

Thanks a lot in us.

Appreciate it.