Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Berkshire Hathaway Inc Acquires 2,477,362 Shares of Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

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

Occidental Petroleum Trading Down 1.4 %

NYSE OXY opened at $45.36 on Friday. The company’s fifty day moving average price is $50.18 and its two-hundred day moving average price is $55.13. The company has a market capitalization of $42.56 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Stephens boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, BMO Capital Markets dropped their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the 3rd quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $50,000. Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum during the second quarter worth about $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 valued at $57,000 after acquiring an additional 233 shares during the period. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

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.