Buffett Ups Occidental Stake

Berkshire Hathaway, led by CEO Warren Buffett, has increased its ownership stake in Occidental Petroleum to under 25%. Berkshire recently purchased approximately $275 million worth of Occidental stock, bringing its total ownership to 222 million shares valued at $13 billion. Buffett has taken advantage of the weak oil and gas prices to add to his company's holding in Occidental. While Buffett has stated that he isn't seeking to control Occidental, he has expressed the possibility of buying more stock. Berkshire's purchases have helped support Occidental's stock, with Berkshire accounting for over 15% of the trading volume on Tuesday.