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Warren Buffett's Berkshire Hathaway plows another $529 million into Occidental Petroleum, boosting its bet on the energy stock to $8.5 billion

10 days ago   |   By Business Insider

Warren Buffett. REUTERS/Rick Wilking
Warren Buffett's Berkshire Hathaway spent another $529 million on Occidental Petroleum stock.
Berkshire now commands a roughly 16% stake worth about $8.5 billion.
Occidental shares have skyrocketed this year, partly in response to surging energy prices.
Warren Buffett's Berkshire Hathaway capitalized on the recent slump in Occidental Petroleum shares, spending $529 million to lift its stake in the oil-and-gas company to over 16%. The famed investor's conglomerate scooped up 9.6 million shares in the space of two days this month, paying around $55 to $56...
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