Berkshire Hathaway Holds 16.3% of Occidental Petroleum After Recent Buys

Berkshire Hathaway purchased more than $500 million of Occidental Petroleum stock recently and now holds a 16.3% stake in the big energy company, according to a regulatory filing late Wednesday.

Berkshire Hathaway (ticker: BRK/A, BRK/B) CEO Warren Buffett began buying Occidental Petroleum (OXY) stock earlier this year and Berkshire now owns 152.7 million shares after purchasing a total of 9.5 million shares this past Friday and Wednesday. The stake is now worth $8.5 billion.

Occidental…