Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Buys $114,577,992.50 in Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the acquisition, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

• On Thursday, December 19th, Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00.

Occidental Petroleum Stock Up 3.9 %

Shares of NYSE OXY opened at $47.13 on Friday. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $44.22 billion, a price-to-earnings ratio of 12.27 and a beta of 1.57. The business has a 50-day moving average of $50.03 and a 200-day moving average of $55.00.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Wolfe Research boosted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.10.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter worth approximately $50,000. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum in the second quarter worth approximately $53,000. Finally, LRI Investments LLC boosted its stake in Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.