Over the past several quarters, Warren Buffett and his team at Berkshire Hathaway have reduced many of their holdings, including selling shares of Apple and Bank of America. However, one stock the conglomerate can't stop buying lately is Occidental Petroleum (NYSE: OXY).

In the second quarter, Berkshire Hathaway purchased 7.3 million shares in the oil and gas producer, bringing its total stake to 255.3 million, worth around $13 billion today. Berkshire Hathaway can't seem to get enough Occidental, but is the stock suitable for your portfolio?

Let's dive into the business and its long-term opportunity to see if an answer presents itself.

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Source Fool.com