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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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 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.
• On Tuesday, December 17th, Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50.

Occidental Petroleum Stock Performance

OXY opened at $48.60 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $45.61 billion, a PE ratio of 12.66 and a beta of 1.55. The firm’s 50-day moving average price is $49.06 and its 200 day moving average price is $51.93. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OXY shares. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Raymond James boosted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.71.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its holdings 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 purchasing an additional 304 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at about $27,000. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $32,000. Finally, Atala Financial Inc acquired a new position in Occidental Petroleum in the 4th quarter valued at about $40,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.