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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 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 stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $47.13 on Friday. The stock has a 50 day moving average price of $50.03 and a 200-day moving average price of $55.04. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The stock has a market cap of $44.22 billion, a price-to-earnings ratio of 12.27 and a beta of 1.57. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Piper Sandler lowered their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group cut their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Barclays reduced their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.10.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors have recently made changes to their positions in OXY. H&H International Investment LLC grew its holdings in Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum during the second quarter valued at approximately $92,433,000. Anson Funds Management LP raised its holdings in shares of Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares during the period. American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 16.8% during the 2nd 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 during the last quarter. Finally, Cooke & Bieler LP boosted its holdings in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after acquiring an additional 503,173 shares during the period. 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.