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Buffett Dives Deeper Into Occidental With Share Purchases (1)

March 17, 2022, 2:19 PM

Warren Buffett’s Berkshire Hathaway Inc. snapped up 18.1 million additional shares of Occidental Petroleum Corp., giving the conglomerate a 14.6% stake in the oil giant.

Berkshire bought the shares between Monday and Wednesday at prices ranging from $52.99 to $55.38, according to a filing late Wednesday.

Buffett’s company is digging even deeper into Occidental’s stock as surging oil prices buoy the U.S. shale driller. Berkshire disclosed in early March that it had built up a common stock investment in the oil giant in addition to its preferred stock holding, a little less than two years after Berkshire exited ...