Occidental Petroleum Co. (NYSE:OXY) Major Shareholder Purchases $63,204,312.27 in Stock

Occidental Petroleum Co. (NYSE:OXYGet Free Report) major shareholder Berkshire Hathaway Inc acquired 1,060,653 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $59.59 per share, with a total value of $63,204,312.27. Following the transaction, the insider now directly owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major 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 Monday, June 17th, Berkshire Hathaway Inc bought 334,461 shares of Occidental Petroleum stock. The stock was acquired at an average cost of $59.75 per share, for a total transaction of $19,984,044.75.
  • On Wednesday, June 12th, Berkshire Hathaway Inc bought 765,899 shares of Occidental Petroleum stock. The stock was acquired at an average cost of $60.28 per share, for a total transaction of $46,168,391.72.
  • On Monday, June 10th, Berkshire Hathaway Inc bought 584,550 shares of Occidental Petroleum stock. The stock was acquired at an average cost of $60.26 per share, for a total transaction of $35,224,983.00.
  • On Friday, June 7th, Berkshire Hathaway Inc bought 1,386,844 shares of Occidental Petroleum stock. The stock was acquired at an average cost of $59.67 per share, for a total transaction of $82,752,981.48.
  • On Wednesday, June 5th, Berkshire Hathaway Inc bought 524,340 shares of Occidental Petroleum stock. The stock was acquired at an average cost of $59.75 per share, for a total transaction of $31,329,315.00.

Occidental Petroleum Price Performance

NYSE OXY opened at $61.26 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company has a market capitalization of $54.32 billion, a PE ratio of 16.74 and a beta of 1.59. The firm’s 50 day moving average is $63.62 and its 200-day moving average is $61.45.

Occidental Petroleum (NYSE:OXYGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was down 17.2% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.89 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

Several research firms recently weighed in on OXY. Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $84.00 to $69.00 in a research note on Thursday, May 16th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. HSBC began coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price objective on the stock. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.50.

Read Our Latest Research Report on OXY

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently added to or reduced their stakes in the company. CapWealth Advisors LLC increased its holdings in Occidental Petroleum by 2.7% during the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after buying an additional 164 shares during the last quarter. Investment Research & Advisory Group Inc. increased its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. Earnest Partners LLC increased its holdings in Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its holdings in Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 174 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Occidental Petroleum

(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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