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Adam Eckert

BIZARRE: Why occidental petroleum stock is rising - What They Never Told You

Occidental Petroleum Occidental Petroleum Warren Buffett Occidental Petroleum Corp

Occidental Petroleum Corp (NYSE:OXY) shares are trading higher Thursday after Warren Buffett disclosed the purchase of approximately 9.55 million shares at an average price of $55.36.

According to a Form 4 filing with the U.S. Securities and Exchange Commission, Buffett's Berkshire Hathaway Inc (NYSE: BRK-A) purchased around 9.55 million additional shares of Occidental Petroleum, bringing the company's total stake to 16.3% of the oil company.

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