Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Buys $114,577,992.50 in Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares 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 shares were bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00.

Occidental Petroleum Stock Performance

OXY traded down $0.66 on Thursday, hitting $45.36. The company had a trading volume of 18,576,896 shares, compared to its average volume of 9,524,194. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. 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 company’s fifty day moving average price is $50.18 and its 200 day moving average price is $55.13. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James lifted 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 report on Thursday, November 21st. UBS Group decreased their price objective 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. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Principal Financial Group Inc. grew its holdings in Occidental Petroleum by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer’s stock valued at $39,880,000 after buying an additional 51,042 shares during the last quarter. Alternative Investment Advisors LLC. acquired a new stake in shares of Occidental Petroleum in the third quarter worth $1,002,000. Retirement Systems of Alabama grew its stake in shares of Occidental Petroleum by 1.8% in the third quarter. Retirement Systems of Alabama now owns 149,387 shares of the oil and gas producer’s stock worth $7,699,000 after acquiring an additional 2,700 shares during the last quarter. Inspire Trust Co. N.A. raised its stake in Occidental Petroleum by 13.2% during the 3rd quarter. Inspire Trust Co. N.A. now owns 57,365 shares of the oil and gas producer’s stock valued at $2,957,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in Occidental Petroleum by 1,247.7% in the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock valued at $2,602,000 after purchasing an additional 46,740 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.