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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major 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 acquired 3,614,015 shares of Occidental Petroleum stock. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $47.13 on Friday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year 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. The business has a fifty day moving average price of $50.03 and a 200-day moving average price of $55.00. The company has a market capitalization of $44.22 billion, a PE ratio of 12.27 and a beta of 1.57.

Occidental Petroleum Announces Dividend

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

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of the stock. Atria Wealth Solutions Inc. increased its holdings in shares of Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after acquiring an additional 176 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after buying an additional 182 shares during the last quarter. Gateway Advisory LLC boosted its position in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 184 shares during the last quarter. Segment Wealth Management LLC boosted its position in shares of Occidental Petroleum by 5.2% during the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its position in shares of Occidental Petroleum by 2.2% during the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after buying an additional 200 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Raymond James increased their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Susquehanna decreased their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup decreased their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.