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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % 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 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 stock was purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50.

Occidental Petroleum Trading Up 0.5 %

NYSE:OXY opened at $48.60 on Wednesday. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The firm has a fifty day simple moving average of $49.06 and a 200-day simple moving average of $51.93. 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 company has a market capitalization of $45.61 billion, a P/E ratio of 12.66 and a beta of 1.55.

Analyst Ratings Changes

OXY has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. UBS Group cut their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Piper Sandler cut their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Wolfe Research lifted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Three 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.71.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 304 shares during the period. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $27,000. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter valued at $32,000. Finally, Atala Financial Inc acquired a new position in Occidental Petroleum during the fourth quarter valued at $40,000. 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.