Warren Buffett Just Bought This Oil Stock in Market Sell-Off; Should You?

Warren Buffett Just Bought This Oil Stock in Market Sell-Off; Should You?

Warren Buffett and his investing team are taking advantage of the stock market sell-off, but you might be surprised to hear about their latest purchase. It's not a tech or a financial or a consumer stock that Berkshire Hathaway (BRK.A -2.14%)(BRK.B -2.02%) has large stakes in. It's an oil stock -- one that Buffett can't seem to keep his hands off of. A regulatory filing dated June 22 reveals Berkshire Hathaway bought 9.6 million shares in Occidental Petroleum (OXY -0.39%) between June 17 and June 22, valued at nearly $529 million. After an unstoppable rally through the year, it's only now -- in the past couple of weeks or so -- that Occidental stock has taken a breather. At Thursday morning's prices, it has dropped more than 20% in value …
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