Warren Buffett buys another $127 million worth of Occidental Petroleum stock

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Investor Warren Buffett’s company bought another $127 million worth of Occidental Petroleum stock over the past week to give Berkshire Hathaway 213.9 million shares of the oil producer. Berkshire said in a filing with the Securities and Exchange Commission that it bought another 2.2 million Occidental shares. Buffett’s company controls nearly 24% of Occidental’s stock and holds warrants to buy another 83.9 million shares, but the billionaire recently told shareholders that he has no plans to buy the entire company. Buffett has been regularly buying shares of the Houston-based company since early last year when the stock drops below $60. Occidental shares were selling for $58.23 Tuesday.