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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% 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 acquired 3,614,015 shares of Occidental Petroleum stock. The stock was acquired at an average cost 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 firm’s 50 day moving average price is $50.18 and its two-hundred day moving average price is $55.13. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. 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 Announces Dividend

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

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors have recently bought and sold shares of OXY. H&H International Investment LLC lifted its position in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $92,433,000. Anson Funds Management LP grew its holdings in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Finally, Cooke & Bieler LP boosted its position in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after purchasing an additional 503,173 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OXY has been the subject of several recent analyst reports. UBS Group decreased their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Stephens upped their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $62.10.

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.