Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%

Warren Buffett’s Berkshire Hathaway has increased its stake in Occidental Petroleum to nearly 29% through consecutive daily purchases of the company’s shares. The conglomerate acquired an additional 7.3 million shares at prices slightly above or below $60, bringing their total holding to over 255 million shares. Berkshire Hathaway also owns $10 billion of Occidental preferred stock and warrants to purchase another 83.9 million common shares. While there was speculation of a takeover, Buffett clarified that he wouldn’t take full control of the oil company.