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

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were purchased 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 in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 purchased 3,614,015 shares of Occidental Petroleum stock. The shares were purchased 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 bought at an average cost of $46.25 per share, with a total value of $114,577,992.50.

Occidental Petroleum Trading Up 0.5 %

Shares of NYSE OXY traded up $0.25 during trading on Friday, reaching $48.13. The company had a trading volume of 8,600,950 shares, compared to its average volume of 9,742,646. The company's fifty day moving average price is $48.99 and its 200-day moving average price is $51.79. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The stock has a market cap of $45.16 billion, a P/E ratio of 12.53 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors have recently made changes to their positions in OXY. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Geode Capital Management LLC boosted its position in shares of Occidental Petroleum by 2.9% during the 4th 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 purchasing an additional 398,467 shares in the last quarter. H&H International Investment LLC boosted its position in shares of Occidental Petroleum by 497.7% during the 3rd 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 purchasing an additional 7,680,598 shares in the last quarter. Invesco Ltd. boosted its position in shares of Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Occidental Petroleum by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer's stock valued at $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OXY. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Monday, December 9th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Susquehanna dropped their price objective on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a report on Thursday, November 14th. Finally, TD Cowen dropped their price objective on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $61.71.

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.