Warren Buffett's Firm Boosts Stake in Occidental Petroleum, Surpassing 25% Ownership

Warren Buffett's company, Berkshire Hathaway, has purchased an additional 2.1 million shares of Occidental Petroleum, bringing its total ownership to over 25% of the oil producer. With more than 224 million shares worth nearly $13 billion acquired over the past year and a half, Buffett may continue buying as the stock price remains favorable. While investors often follow Buffett's lead, his statement that he has no plans to acquire all of Occidental may temper enthusiasm. However, Berkshire holds warrants to buy an additional 83.9 million shares, and it also owns preferred shares worth over $10 billion.