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Benzinga
Benzinga
Business
Melanie Schaffer

A Look At Occidental Petroleum After Warren Buffett's Berkshire Hathaway Ups Interest In Stock

Occidental Petroleum Corporation (NYSE:OXY) opened lower on Monday after a big bullish day on Friday saw the stock rally almost 10% off Thursday’s closing price.

Occidental Petroleum surged on Friday after news dropped that Berkshire Hathaway, Inc (NYSE: BRK-A) (NYSE: BRK-B) CEO and billionaire investor Warren Buffett won approval to take up to a 50% stake in the oil giant. Prior to the approval, Berkshire reported holding a 19.4% stake in Occidental.

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