Warren Buffett’s Berkshire Hathaway has increased its ownership stake in Occidental Petroleum to almost 29%, Reuters has reported. The news service cited a regulatory filing.

The billionaire Buffett’s investments are closely watched by Wall Street, as he is considered so savvy.

Buffett bought an additional 2.95mn shares in Houston-based Oxy.

The filing with the US Securities and Exchange Commission (SEC) suggests that Berkshire Hathaway has invested about $176mn for the additional stake, in three tranches since June 13, 2024.

Now Berkshire Hathaway has about 255.3mn shares, a stake that is valued at about $15.37bn as of June 17, 2024.

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