Warren Buffett's company bought another $127 million worth of Occidental Petroleum stock...
Shareholders watch Warren Buffett and Charlie Munger from the overflow room during the Berkshire Hathaway annual meeting earlier this month.OMAHA, Neb. — Investor Warren Buffett's company bought another $127 million worth of Occidental Petroleum stock over the past week to give Berkshire Hathaway 213.9 million shares of the oil producer.
Buffett's Omaha, Nebraska-based conglomerate controls 23.8% of Occidental's stock and holds warrants to buy another 83.9 million shares for $59.62 apiece, but the billionaire recently told shareholders that he has no plans to buy the entire company. Buffett has been regularly buying Houston-based Occidental shares since early last year whenever the stock drops below $60. Berkshire's latest purchases were made at prices between $56.34 and $58.52.
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