Warren Buffett’s Berkshire buys more Occidental after 30% sell-off from record high

Warren Buffett’s Berkshire Hathaway purchased more shares of Occidental Petroleum after the oil and gas producer tumbled more than 30% from its record high.

The Omaha, Nebraska-based conglomerate scooped up 763,017 shares of the Houston-based energy company on Friday for $35.7 million, according to a regulatory filing. Berkshire is Occidental’s biggest investor, holding a 28.2% stake.

Shares of Occidental have fallen nearly 32% from an all-time high reached last April. The stock dropped more than 17% in 2024 as oil prices weakened.

In late December, Berkshire purchased 8.9 million Occidental shares during a broad market pullback. Occidental remains Berkshire’s sixth-largest equity holding.

Buffett has made clear he won’t take full control of the oil company, founded by legendary oilman Armand Hammer. There had been speculation of a takeover after Berkshire received regulatory approval to buy as much as a 50% stake. 

[Full Article](https://www.cnbc.com/2025/02/12/warren-buffett-buys-more-occidental-after-30percent-sell-off-from-record-high.html)