Berkshire Hathaway Inc Buys 763,017 Shares of Occidental Petroleum Co. (NYSE:OXY) Stock

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% 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, for a total transaction of $164,799,084.00.
• On Tuesday, December 17th, Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50.

Occidental Petroleum Stock Performance

NYSE OXY opened at $47.83 on Thursday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market cap of $44.88 billion, a P/E ratio of 12.46 and a beta of 1.55. The company’s 50-day simple moving average is $49.03 and its 200 day simple moving average is $51.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OXY. TD Cowen reduced their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Citigroup cut their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Jefferies Financial Group upped their price target 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. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, Piper Sandler decreased their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.71.

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently modified their holdings of OXY. Vanguard Group Inc. boosted its stake in 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 buying an additional 10,434,098 shares in the last quarter. H&H International Investment LLC lifted its holdings in shares of 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 acquiring an additional 7,680,598 shares during the period. Scharf Investments LLC boosted its stake in shares of Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares in the last quarter. Anson Funds Management LP increased its position in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 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.