Buffett's Berkshire Hathaway boosts stake in Occidental by $36 mln

Investing.com-- In a filing after the close, Warren Buffet’s Berkshire Hathaway Inc (NYSE: BRK-a) disclosed it increased its stake in oil and gas major Occidental Petroleum Corporation (NYSE: OXY) as the company’s shares traded near two-year lows.

Berkshire purchased an additional 763,017 shares in Occidental earlier in February at $46.8195 per share, worth a total of $35.7 million. The purchase brings its total holdings in Occidental to 264.9 million shares.

The purchase comes amid recent weakness in Occidental’s stock price, as the company and its oil and gas peers were battered by recent declines in oil prices. Berkshire had in December also bought more shares in Occidental on a similar trend.

Occidental is trading down 2.4% so far in 2025, and is close to its weakest levels in two years.

Occidental is Buffet’s sixth-biggest holding, with the investor having cited the company’s steady dividends as a motivator for investing. Buffett has also ruled out a full takeover of the Houston-based oil firm.

Oil prices fell sharply in recent weeks as U.S. President Donald Trump vowed to ramp up domestic energy production, pointing to less tight markets in the coming months.

Crude was also rattled by concerns over slowing demand, after Trump imposed increased trade tariffs, raising concerns over a hit to economic growth and oil demand.

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