Warren Buffett's Berkshire Hathaway snapped up more shares of Occidental Petroleum, taking advantage of sliding oil prices amid the spreading banking crisis.
Warren Buffett 's Berkshire Hathaway snapped up more shares of Occidental Petroleum , taking advantage of sliding oil prices amid the spreading banking crisis. The Omaha, Nebraska-based conglomerate bought 7.9 million shares in multiple trades on Monday, Tuesday and Wednesday, a new regulatory filing showed. The average price for the purchases was $59.17, totaling $466.7 million. That brought Berkshire's total number of shares in Occidental to 208 million shares, 23.
Berkshire has added to its already-large Occidental stake twice this month alone. The "Oracle of Omaha" had purchased 5.8 million shares for $352.5 million on March 3, March 4, and March 7. Earlier this month, Occidental CEO Vicki Hollub told CNBC that she met with Buffett to discuss the oil and gas industry and the technology involved in it.
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