Berkshire Hathaway Inc.

the conglomerate controlled by billionaire Warren Buffett, acquired about10.5 million shares of Occidental Petroleum Corp.

stock valued at nearly $589 million between Dec. 11 and 13, according to a Thursday filing. Berkshire Hathaway now owns about 238.53 million shares, valued at roughly $13.65 billion. Occidental’s total market capitalization is currently at $48.9 billion. Occidental Petroleum’s stock was up by 2.4% in premarket trades.

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