Warren Buffett's Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%

Warren Buffett’s Berkshire Hathaway has been steadily increasing its stake in Occidental Petroleum over the past nine trading sessions, bringing its ownership to nearly 29%, according to regulatory filings. This positions Occidental as Berkshire's sixth-largest holding, making it its largest institutional investor. Buffett began investing in Occidental after being impressed by the company's earnings conference call, praising CEO Vicki Hollub's management. Occidental offers a 1.5% dividend yield and has maintained a stable stock price this year, following a 5% decline in 2023. Buffett took advantage of market volatility in early 2022 to acquire a significant portion of the company rapidly.