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

Occidental Petroleum Co. (NYSE:OXY) major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. 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 acquired 3,614,015 shares of Occidental Petroleum stock. The stock was purchased 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 purchased 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 Stock Up 0.0 %

Shares of NYSE:OXY opened at $47.84 on Friday. 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 company’s fifty day moving average is $49.01 and its 200-day moving average is $51.82. The company has a market capitalization of $44.89 billion, a PE ratio of 12.46 and a beta of 1.55.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in the company. Segment Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in shares of Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after buying an additional 200 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 200 shares during the last quarter. Howard Capital Management Inc. raised its holdings in shares of Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 216 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OXY. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Stephens increased 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Citigroup reduced their price objective 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, Raymond James increased their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued 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 an average price target 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.