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

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was acquired 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 acquired at an average cost of $46.25 per share, with a total value of $114,577,992.50.

Occidental Petroleum Stock Up 0.5 %

Shares of NYSE:OXY traded up $0.25 during trading on Friday, hitting $48.13. The company's stock had a trading volume of 10,407,152 shares, compared to its average volume of 9,485,194. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The stock's 50-day moving average price is $49.00 and its two-hundred day moving average price is $51.71. The company has a market capitalization of $45.16 billion, a PE ratio of 12.53 and a beta of 1.55.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC raised its stake in Occidental Petroleum by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after buying an additional 398,467 shares in the last quarter. H&H International Investment LLC raised its stake in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Northern Trust Corp raised its stake in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after buying an additional 491,797 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OXY shares. Piper Sandler lowered their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Stephens lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their price target on Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.71.

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.