Warren Buffett just bought $150 million worth of this stock

Core Insights - Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum (OXY) to 28.26% through recent stock purchases totaling 250,583,605 shares valued at $153.3 million [1][2][4] - The latest transactions occurred on June 5, 6, and 7, 2024, with shares acquired at prices ranging from$59.6687 to $59.9342 [2][4] - OXY stock has shown resilience in 2024 despite a modest decline of 0.95% year-to-date, indicating potential buying opportunities for investors [3][6] Company Developments - Occidental Petroleum announced a joint venture with Berkshire Hathaway's energy unit to extract lithium, which is essential for electric vehicle batteries and energy storage [8] - The project aims to utilize Occidental's direct lithium extraction technology at Berkshire's geothermal facility in California, highlighting the company's commitment to environmentally safe practices [8] - This collaboration reflects a broader trend among oil majors investing in electrification as governments push for reduced fossil fuel consumption [8]