Berkshire Hathaway
purchased nearly eight million shares of
Occidental Petroleum
in recent days, bringing its stake to 208 million shares, or 23% of the big energy company, according to a regulatory filing late Wednesday.
Berkshire Hathaway (Ticker BRK.A, BRK.A) bought the shares from Monday through Wednesday at prices ranging from $56 to $61 a share. Occidental Petroleum (OXY) stock fell 5.6% Wednesday to $56.80 because of a drop of more than $3 a barrel in oil prices to under $68 a barrel as measured by West Texas Intermediate. Shares were up 1.1% to $57.40 in premarket trading Thursday.
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