(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway (NYSE:) Inc bought another 2.95 million shares of Occidental Petroleum (NYSE:) shares, according to regulatory filings, bringing its stake in the U.S. oil producer’s common shares to almost 29%.
Berkshire reported to the U.S. Securities and Exchange Commission on Monday that it has paid about $176 million in three separate purchases of Occidental shares since Thursday.
As a result of the acquisitions, Berkshire acquired about 255.3 million shares of Occidental common stock, representing about a 29% stake, valued at about $15.37 billion on Monday. His purchases this month totaled 5.5 million shares.
In August 2022, Berkshire received U.S. regulatory approval to buy up to 50% of Occidental, but Buffett has said he has no plans to acquire the Houston company.
Buffett also holds warrants to buy another 83.5 million shares of Occidental stock at $59.62 per share, below Occidental’s closing price of $60.20 on Monday.