Buffett's BH Doubles Down On Petroleum Stock
Billionaire Warren Buffett's company bought more than $200 million more Occidental Petroleum stock over the past week to give it control of 23.6% of the oil producer's stock. Berkshire Hathaway disclosed its latest purchases of 3.67 million shares in a filing with the Securities and Exchange Commission. Berkshire has been steadily buying Occidental shares since last February when the price dips below $60 apiece. Occidental shares gained more than 3% Tuesday to sell for $61.61 after Berkshire's latest purchases were revealed. Many investors follow Buffett's moves closely because he is regarded as one of the greatest investors ever.