Insider Buying: Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Purchases $35,724,455.94 in Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 bought 3,614,015 shares of Occidental Petroleum stock. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00.
• On Tuesday, December 17th, Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock. The shares were purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50.

Occidental Petroleum Stock Up 0.0 %

Occidental Petroleum stock opened at $47.84 on Friday. The company has a 50-day simple moving average of $49.01 and a 200-day simple moving average of $51.82. The firm has a market capitalization of $44.89 billion, a P/E ratio of 12.46 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Altshuler Shaham Ltd bought a new position in Occidental Petroleum in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum in the 4th quarter valued at about $27,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter valued at about $32,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on OXY. Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Citigroup cut their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. UBS Group cut their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. TD Cowen cut their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.71.

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.