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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.
• On Tuesday, December 17th, Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50.

Occidental Petroleum Price Performance

OXY stock traded up $0.22 during trading on Tuesday, hitting $48.60. 8,131,010 shares of the company’s stock traded hands, compared to its average volume of 9,834,681. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week 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 business has a fifty day simple moving average of $49.06 and a 200 day simple moving average of $51.93. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 12.66 and a beta of 1.55.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. Citigroup reduced their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Mizuho reduced their target price 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 reduced their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Stephens upped their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.71.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its holdings 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 acquiring an additional 304 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $32,000. Finally, Atala Financial Inc purchased a new position in Occidental Petroleum in the 4th quarter worth about $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.