(Reuters) – Warren Buffett's Berkshire Hathaway Inc has bought another 5.9 million shares of Occidental Petroleum Corp, boosting its stake in the oil company to about 15.2%.
The purchases were made on Monday and Tuesday and cost about $336 million, Berkshire said in a regulatory filing on Wednesday night.
Following the purchases, Berkshire owned 142.3 million Occidental shares worth about $8.8 billion.
My question is, what makes Occidental better than say Devon, Coterra or Pioneer? (From either your perspective or from the perspective from Warren Buffett. What does he know about Occidental that the rest of us don't?
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