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Warren Buffett's Berkshire buys more Occidental after 30% sell-off from record high

Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum by purchasing an additional 4.3 million shares, bringing its total ownership to 255.3 million shares, or about 28.8% of the company. This move comes after Occidental's stock experienced a significant decline of over 30% from its peak in August 2022, influenced by falling oil prices and concerns over the company's debt levels. Despite these challenges, Buffett's continued investment signals confidence in Occidental's long-term value, particularly as it aligns with his strategy of investing in energy sectors during downturns. The acquisition was made at a time when Occidental's shares were trading at a lower price, suggesting Buffett sees the current market conditions as an opportunity to buy at a discount.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/warren-buffett-s-berkshire-buys-more-occidental-after-30-sell-off-from-record-high/ar-AA1yTXIO ]