Berkshire Hathaway Inc Purchases 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 dated Tuesday, December 17th. The stock was purchased at an average cost 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 approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Thursday, December 19th, Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00.

Occidental Petroleum Price Performance

Shares of OXY opened at $47.13 on Friday. The firm has a fifty day simple moving average of $50.03 and a two-hundred day simple moving average of $55.04. The firm has a market cap of $44.22 billion, a PE ratio of 12.27 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a $0.22 dividend. 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 is 22.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of 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 worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $50,000. Strategic Financial Concepts LLC bought a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $53,000. Finally, LRI Investments LLC increased its stake in shares of Occidental Petroleum by 34.6% in the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 233 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OXY shares. Wolfe Research upped their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Scotiabank cut their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group boosted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Finally, UBS Group cut their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.10.

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.