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Berkshire Hathaway Inc. (NYSE: BRKa), led by Warren Buffett, increased its stake in Occidental Petroleum Corporation (NYSE: OXY) as the stock traded near two-year lows. A recent SEC filing revealed that Berkshire acquired an additional 763,017 shares in February at $46.8195 per share, totaling $35.7 million. This purchase brings Berkshire’s total holdings in Occidental to 264.9 million shares.
Occidental’s stock has struggled in 2025, down 2.4% year-to-date, as oil prices weakened. Berkshire previously bought more shares in December under similar conditions. Buffett, a long-time supporter of Occidental, values its consistent dividends but has ruled out a full acquisition.
Oil prices have dropped sharply in recent weeks after U.S. President Donald Trump pledged to boost domestic energy production, signaling a potentially looser supply market. Additional concerns over demand arose following new trade tariffs imposed by Trump, sparking fears of slower economic growth and reduced oil consumption.
Buffett’s investment strategy often involves buying undervalued assets, and Occidental remains a key part of Berkshire’s portfolio as its sixth-largest holding. With oil price volatility persisting, investors continue to watch Buffett’s moves closely.
