Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Berkshire Hathaway Inc Buys 763,017 Shares

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 shares were bought 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 shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50.

Occidental Petroleum Trading Up 0.5 %

Shares of NYSE OXY traded up $0.22 during midday trading on Tuesday, hitting $48.60. 8,131,010 shares of the company traded hands, compared to its average volume of 9,834,681. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-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. The stock has a 50-day moving average price of $49.06 and a 200 day moving average price of $51.93. The firm has a market cap of $45.61 billion, a P/E ratio of 12.66 and a beta of 1.55.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler decreased their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned 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 target price of $61.71.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC boosted its stake in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $27,000. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the third quarter worth approximately $32,000. Finally, Atala Financial Inc bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $40,000. Institutional investors own 88.70% of the company’s stock.

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.