Insider Buying: Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Buys $19,984,044.75 in Stock

Occidental Petroleum Co. (NYSE:OXYGet Free Report) major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the acquisition, the insider now owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The acquisition was disclosed in a legal 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 transactions with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

  • On Friday, June 14th, Berkshire Hathaway Inc acquired 1,060,653 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $59.59 per share, with a total value of $63,204,312.27.
  • On Wednesday, June 12th, Berkshire Hathaway Inc acquired 765,899 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $60.28 per share, with a total value of $46,168,391.72.
  • On Monday, June 10th, Berkshire Hathaway Inc acquired 584,550 shares of Occidental Petroleum stock. The stock was purchased at an average cost of $60.26 per share, with a total value of $35,224,983.00.
  • On Friday, June 7th, Berkshire Hathaway Inc bought 1,386,844 shares of Occidental Petroleum stock. The shares were bought at an average cost of $59.67 per share, with a total value of $82,752,981.48.
  • On Wednesday, June 5th, Berkshire Hathaway Inc bought 524,340 shares of Occidental Petroleum stock. The shares were bought at an average cost of $59.75 per share, with a total value of $31,329,315.00.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $61.26 on Thursday. The business has a 50 day moving average of $63.62 and a 200 day moving average of $61.45. The company has a market capitalization of $54.32 billion, a price-to-earnings ratio of 16.74 and a beta of 1.59. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXYGet Free Report) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.89 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.44%. Occidental Petroleum’s payout ratio is 24.04%.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently bought and sold shares of the company. Investment Research & Advisory Group Inc. lifted its position in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. Orion Capital Management LLC bought a new stake in Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust lifted its position in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $34,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Citigroup reduced their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, Morgan Stanley lifted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.50.

Read Our Latest Stock Analysis on Occidental Petroleum

Occidental Petroleum Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Occidental Petroleum (NYSE:OXY)

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