Berkshire Hathaway has now boosted its stake in the Houston-based oil and gas producer to 24.4%.
Warren Buffett's Berkshire Hathaway bought more shares of Occidental Petroleum in each of the last six trading days, boosting its stake in the Houston-based oil-and-gas producer to 24.4%, according to regulatory filings. The Omaha, Nebraska-based conglomerate purchased a total of of 5.6 million shares for $327.2 million over the past six sessions at an average price of $58 a share. Berkshire now owns 217.3 million shares with a market value of nearly $12.7 billion.
"There's speculation about us buying control; we're not going to buy control," Buffett said at Berkshire's annual shareholder meeting earlier this month. "We wouldn't know what to do with it." The 92-year-old investor told shareholders that he could be interested in buying more shares, and he's content with the warrants he owns.
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