Was watching when that news came through and OXY reached an intraday peak of 6%.
Buffett Violates Own Rule in Buying Occidental Stock Berkshire purchased 8.9 million shares of Occidental from Tuesday through Thursday for about $405 million at an average price of $46, bringing its holdings to 264.2 million shares, a 28% stake worth around $12 billion. Occidental has been one of Buffett's largest purchases in recent years.Berkshire bought the stock at its 52-week low after having been absent from the market for Occidental since June. Its average cost is around $53 a share, Barron's estimates, resulting in a paper loss of about $1.5 billion.Occidental shares were up 3.9% to $47.13 Friday as investors took comfort from the Berkshire purchases.
WDS Price at posting:
$23.55 Sentiment: Buy Disclosure: Held
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