Warren Buffett's Berkshire Hathaway ups stake in Occidental Petroleum (OXY)

Occidental Petroleum (NYSE: OXY) shares are up around 2% Friday after Berkshire Hathaway (AMEX: BRK.A) (AMEX: BRK.B) upped its stake in the company to nearly 28%.

According to a regulatory filing, Warren Buffett-led Berkshire Hathway has acquired around 5.2 million shares of Occidental for about $312.1 million, putting its stake at 27.7%.

The filing with the US Securities and Exchange Commission shows the shares were purchased between December 19 and December 21.

At the time of writing, OXY is trading at $61.72, up 2.3%.

Only last week, it was revealed in a filing that Berkshire had acquired about 10.5 million shares of Occidental for about $588.7 million.

By Sam Boughedda

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