Buffett Ditches Exxon, Buys Stake In 21st Century Fox, Deere

(RTTNews) - Billionaire investor Warren Buffett's Berkshire Hathaway Inc. (BRK-B, BRK-A, BRKa) has sold off its $3.7 billion stake in Exxon Mobil Corp. (XOM) amid plunging crude prices. Nonetheless, the company increased its investment in farm-equipment maker Deere & Co. (DE) to $1.5 billion.

Global oil prices have plunged by nearly half since last June, with a supply glut and the OPEC preferring to maintain its production. Profit and shares of oil companies have been severely impacted by the plunging prices, with several companies firing workers, curbing capital spending and have postponed many of its projects.

However, Exxon Mobil's stock has performed better than its rivals during the past few months. Berkshire in a SEC filing said it has sold the entire 41 million shares in Exxon Mobil, which it started to acquire in the third quarter of 2013.

Berkshire also divested its small stake in ConocoPhillips and lowered its stake in National Oilwell Varco Inc.

Meanwhile, Buffett revealed it has increased its stake in Deere to $1.5 billion. The company boosted its stake in Deere to about 7.6 million shares in the third quarter and further raised it to 17.1 million shares in the fourth quarter.

Buffett, the "Oracle of Omaha," also bought 4.7 million shares of media company 21st Century Fox Inc. (FOX) during the fourth quarter. Berkshire also disclosed buying 8.4 million shares in Restaurant Brands International, the parent company of the Burger King and Tim Hortons restaurants.

FOX is currently trading at $33.92, down $0.08 or 0.24%, on the Nasdaq.

DE is currently trading at $91.71, up $1.79 or 1.99%, on the NYSE.

XOM is currently trading at $91.47, down $1.58 or 1.70%, on the NYSE.