Warren Buffet’s Berkshire Hathaway (NYSE:) bought round 5.9 million further shares of Occidental Petroleum (NYSE:), in response to a brand new submitting late Wednesday.

The submitting confirmed that the conglomerate purchased OXY inventory on Could 2 and Could 3 on the worth vary between $56 and $58.37 apiece.

Earlier than these transactions, Berkshire held round 14.6% of Occidental’s frequent inventory, together with the popular stake it bought in 2019 when the oil firm negotiatiated a take care of Anadarko Petroleum (NYSE:). The funding big now owns roughly 15.2% of OXY.

Occidental was one of the best performing element within the first quarter after Russia’s invasion of Ukraine and Berkshire’s purchases drove the oil big’s inventory larger.

Shares of Occidental rose almost 4% on Wednesday and have greater than doubled year-to-date.

By Senad Karaahmetovic