Source: Sina Finance

Berkshire Hathaway, owned by Buffett$Berkshire Hathaway-A (BRK.A.US)$/$Berkshire Hathaway-B (BRK.B.US)$Recently purchased more$Occidental Petroleum (OXY.US)$stocks of this energy company, currently holding about 29% of its shares, worth about $15.4 billion.

According to the documents submitted to the Securities and Exchange Commission (SEC) on Monday local time, Berkshire Hathaway purchased 2.9 million shares of Occidental Petroleum at a price of approximately $173 million on June 13, 14, and 17. Since June, Berkshire Hathaway has been buying Occidental Petroleum stock for nine consecutive working days, holding a total of 255.3 million shares currently.

Buffett seems to be taking advantage of the weakness in energy stocks to buy more Occidental Petroleum shares. The recent purchase price was less than $60 per share. In April of this year, Occidental Petroleum's stock price reached a peak of $71, but closed at $60.20 on Monday.

As a shareholder holding more than 10% of Occidental Petroleum, Berkshire Hathaway must disclose any new trades within two business days.

Buffett has stated that Berkshire Hathaway has no intention of acquiring Occidental Petroleum in its entirety.

Berkshire Hathaway also holds preferred shares of Occidental Petroleum worth about $8.5 billion and has warrants to purchase nearly 84 million common shares at a slightly lower price than $60 per share.

Editor/tolk