Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Berkshire Hathaway Inc Acquires 185,419 Shares of Stock

Occidental Petroleum Co. (NYSE:OXYGet Rating) major shareholder Berkshire Hathaway Inc acquired 185,419 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was purchased at an average cost of $57.34 per share, with a total value of $10,631,925.46. Following the transaction, the insider now owns 143,162,392 shares in the company, valued at $8,208,931,557.28. The purchase was disclosed in a legal filing with the SEC, 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 Tuesday, May 10th, Berkshire Hathaway Inc acquired 716,355 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $57.32 per share, with a total value of $41,061,468.60.
  • On Monday, May 2nd, Berkshire Hathaway Inc acquired 5,867,118 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $57.10 per share, with a total value of $335,012,437.80.

Shares of NYSE:OXY opened at $59.22 on Friday. The firm has a 50 day moving average of $58.07 and a 200-day moving average of $42.64. The stock has a market capitalization of $55.48 billion, a PE ratio of 9.01, a PEG ratio of 0.19 and a beta of 1.94. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 2.79. Occidental Petroleum Co. has a 12 month low of $21.62 and a 12 month high of $64.98.

Occidental Petroleum (NYSE:OXYGet Rating) last issued its earnings results on Tuesday, May 10th. The oil and gas producer reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Occidental Petroleum had a net margin of 25.01% and a return on equity of 54.54%. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS. On average, research analysts predict that Occidental Petroleum Co. will post 9.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 10th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, June 9th. Occidental Petroleum’s payout ratio is presently 7.91%.

OXY has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Occidental Petroleum from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 25th. Stifel Nicolaus started coverage on shares of Occidental Petroleum in a report on Tuesday, April 5th. They set a “buy” rating and a $84.00 target price for the company. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $44.00 to $88.00 in a report on Thursday, April 7th. TheStreet raised shares of Occidental Petroleum from a “c” rating to a “b-” rating in a report on Thursday, February 24th. Finally, Truist Financial lifted their target price on shares of Occidental Petroleum from $78.00 to $86.00 in a report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $62.00.

Large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $25,000. Moors & Cabot Inc. increased its position in Occidental Petroleum by 91.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 11,955 shares in the last quarter. Richwood Investment Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Arlington Partners LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $29,000. Finally, Addison Advisors LLC increased its position in Occidental Petroleum by 407.6% during the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 428 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Occidental Petroleum Company Profile (Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

See Also

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.