Berkshire Hathaway Inc Purchases 2,477,362 Shares of Occidental Petroleum Co. (NYSE:OXY) Stock

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were bought 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 of the company's stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 cost of $45.60 per share, with a total value of $164,799,084.00.

Occidental Petroleum Stock Performance

Shares of OXY traded down $0.66 during trading hours on Thursday, reaching $45.36. 18,576,896 shares of the company's stock traded hands, compared to its average volume of 9,524,194. The firm has a market capitalization of $42.56 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. The business's fifty day simple moving average is $50.18 and its two-hundred day simple moving average is $55.13. 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.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OXY. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Monday, December 9th. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 21st. Evercore ISI lowered their price target on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a report on Monday, September 30th. Truist Financial reduced their price objective on Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a research note on Monday, September 30th. Finally, TD Cowen decreased their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and a consensus price target of $62.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OXY. Rule One Partners LLC acquired a new position in Occidental Petroleum during the third quarter worth about $14,199,000. Stephens Inc. AR boosted its position in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer's stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $2,509,000. Cerity Partners LLC raised its holdings in shares of Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock worth $3,638,000 after purchasing an additional 15,316 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in Occidental Petroleum by 1,247.7% during the third quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer's stock valued at $2,602,000 after purchasing an additional 46,740 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

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.

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