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OMAHA, Neb.— Berkshire Hathaway Inc . (NYSE:BRKa) (NYSE:BRK.A), led by renowned investor Warren E. Buffett, has expanded its stake in Occidental Petroleum Corp. (NYSE:OXY) by purchasing an additional 763,017 shares. The acquisition, completed on February 7, 2025, was made at a weighted average price of $46.8195 per share, with the transaction value totaling approximately $35.7 million. According to InvestingPro data, Occidental currently trades at an attractive P/E ratio of 11.8x, with analysts setting price targets ranging from $45 to $89 per share.
Following this purchase, Berkshire Hathaway (NYSE:BRKb) now holds a total of 264,941,431 shares of Occidental’s common stock. The shares are held indirectly through Berkshire’s subsidiary, National Indemnity Company, as noted in the filing. The company has maintained dividend payments for 51 consecutive years and currently offers a dividend yield of 1.81%, with a 22% dividend growth in the last twelve months.
Additionally, Berkshire Hathaway possesses 83,858,848.81 warrants to purchase shares of Occidental’s common stock, reflecting an anti-dilution adjustment to the initial number of warrants issued.
This latest transaction underscores Berkshire Hathaway’s continued interest in Occidental Petroleum, a major player in the crude petroleum and natural gas industry.
In other recent news, Occidental Petroleum has been the focus of several analyst actions. Goldman Sachs downgraded the company’s stock from Neutral to Sell, citing the firm’s focus on debt reduction, which could limit returns to shareholders. The firm also reduced the price target from $54.00 to $45.00. On a similar note, Mizuho (NYSE:MFG) Securities maintained a Neutral rating while reducing the price target to $68 from $70, anticipating underperformance in Occidental’s fourth-quarter earnings. However, JPMorgan raised its price target from $58.00 to $59.00, maintaining a Neutral rating based on expectations of in-line operational performance.
In the energy sector, Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), APA Corporation, and Occidental Petroleum experienced gains attributed to a rebound in crude oil prices. This recovery suggests a more favorable business environment for these companies. Despite ongoing tariff concerns, the commodity has managed to regain some ground, reflecting in the companies’ stock prices.
Civitas Resources, an oil and gas producer, is reportedly considering selling some or all of its assets in the Denver-Julesburg Basin in Colorado. The assets could be valued at more than $4 billion, providing Civitas with additional funds for acquisitions and debt reduction. These developments are part of recent news, and investors are advised to monitor the situation closely.
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