Warren Buffett's company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), recently revealed its latest stock transactions. One of its more notable purchases was shares of oil giant Chevron (NYSE: CVX). The move saw Buffett's company add to one of its biggest positions.

Here's a look at what likely drove Berkshire Hathaway's latest oil stock buy and whether other investors might want to buy shares, too.

Berkshire Hathaway bought 16 million shares of Chevron during the fourth quarter. That brought its total to 126 million shares worth over $19 billion. It makes Chevron its fifth-largest holding at 5.3% of its investment portfolio. That's a bigger position than fellow oil producer Occidental Petroleum, which currently clocks in at number six. While Berkshire owns 28.3% of Occidental's outstanding shares (compared to 6.8% of Chevron's), they're worth less than $15 billion, putting the oil company at 4% of its portfolio.

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Source Fool.com