Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Acquires $164,799,084.00 in Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

• On Tuesday, December 17th, Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock. The stock was bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.66 during trading hours on Thursday, hitting $45.36. The company’s stock had a trading volume of 18,576,896 shares, compared to its average volume of 9,524,194. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month 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 stock has a fifty day simple moving average of $50.18 and a 200-day simple moving average of $55.13. The company has a market capitalization of $42.56 billion, a P/E ratio of 11.81 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OXY shares. Raymond James boosted their price target 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. Barclays dropped 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. Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. TD Cowen dropped their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, BMO Capital Markets decreased their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Two investment 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.10.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. boosted its stake 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 purchasing an additional 176 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in Occidental Petroleum by 12.1% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 5,334 shares of the oil and gas producer’s stock worth $336,000 after acquiring an additional 575 shares during the last quarter. Traynor Capital Management Inc. bought a new position in shares of Occidental Petroleum during the second quarter valued at $504,000. Retirement Systems of Alabama lifted its holdings in shares of Occidental Petroleum by 1.0% during the second quarter. Retirement Systems of Alabama now owns 146,687 shares of the oil and gas producer’s stock worth $9,246,000 after purchasing an additional 1,416 shares during the period. Finally, Keynote Financial Services LLC grew its stake in shares of Occidental Petroleum by 1.8% in the second quarter. Keynote Financial Services LLC now owns 33,758 shares of the oil and gas producer’s stock worth $2,128,000 after purchasing an additional 590 shares during the last quarter. 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.