Berkshire Hathaway acquires more shares in Occidental Petroleum

Berkshire Hathaway (BRKA.US) led by Warren Buffet has decided to increase its shareholding in Occidental Petroleum (OXY.US) to a total of 4.58% of the value of BRKA's total portfolio. The company reported a series of purchases of 8,896,890 shares in the company, worth $409 million. Occidental's shares are gaining nearly 5% today.

The latest reported transactions by Berkshire Hathaway. At the same time, the holding increased its stake in VeriSign (VRSN.US) and Sirius XM (SIRI.US). Source: hedgefollow

The company's shares are gaining 5% today, nevertheless they continue to maintain a strong downtrend from a technical perspective. Source: xStation