Shares of Occidental Petroleum (OXY) marked a new all-year high of $64.50 on May 5, after billionaire investor Warren Buffett’s conglomerate Berkshire Hathaway (BRK.A) disclosed an additional stake in OXY shares to the tune of 5.9 million. At the time of writing, OXY stock was up 1.5% during pre-market trading. Year-to-date, OXY stock is up a whopping 101%, boosted by the rising fuel prices, but most of the uptick came since March, when Berkshire first disclosed its stake of 9.8% in the oil and natural gas producer.
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