OMAHA, Neb. (AP) — Warren Buffett’s Berkshire Hathaway now controls practically 20% of Occidental Petroleum’s inventory after choosing up one other $250 million price of shares of the oil producer this week.

Berkshire has been investing closely in Occidental this 12 months, together with shopping for up greater than $1.2 billion of the Houston-based firm’s inventory to date this month.

After the newest purchases that Berkshire disclosed Wednesday, Buffett’s Omaha, Nebraska, based mostly conglomerate now owns practically 180 million Occidental shares price greater than $10 billion. That provides Berkshire management of 19.2% of the corporate.

However Berkshire additionally holds 100,000 most well-liked shares within the firm and warrants to purchase one other 83.9 million Occidental shares for $59.62 apiece that it picked up in 2019 when it helped finance Occidental’s buy of Anadarko.

Occidental shares fell roughly 2.5% Thursday to commerce under Berkshire’s train worth at $56.54, however the shares have gained greater than 80% this 12 months as oil costs soared after Russia’s invasion of Ukraine.

Berkshire has been shopping for shares aggressively this 12 months because the market fell, together with investing greater than $51 billion in shares throughout the first quarter. It received’t reveal all its second-quarter purchases till subsequent month.

Occidental isn’t the one oil producer Berkshire has been shopping for. Earlier this 12 months, Berkshire snapped up greater than $20 billion of Chevron inventory within the first quarter. That made Chevron certainly one of Berkshire’s greatest investments alongside Apple and Financial institution of America.