In a filing, Occidental Petroleum Corp. revealed its 10% Owner BERKSHIRE HATHAWAY INC acquired Company’s shares for reported $19.98 million on Jun 17 ’24. In the deal valued at $59.75 per share,334,461 shares were bought. As a result of this transaction, BERKSHIRE HATHAWAY INC now holds 255,281,524 shares worth roughly $15.36 billion.
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Then, BERKSHIRE HATHAWAY INC bought 1,060,653 shares, generating $63,203,570 in total proceeds. Upon buying the shares at $59.59, the 10% Owner now owns 254,947,063 shares.
Before that, BERKSHIRE HATHAWAY INC bought 1,552,497 shares. Occidental Petroleum Corp. shares valued at $92,789,485 were divested by the 10% Owner at a price of $59.77 per share. As a result of the transaction, BERKSHIRE HATHAWAY INC now holds 253,886,410 shares, worth roughly $15.28 billion.
A number of analysts have revised their coverage, including Truist’s analysts, who decreased its forecast for the stock in mid May from “a Buy” to “a Hold”. Scotiabank also remained covering OXY and has increased its forecast on April 11, 2024 with a “Sector outperform” recommendation from previously “Sector perform” rating. Barclays started covering the stock on April 10, 2024. It rated OXY as “an Equal weight”.
Price Performance Review of OXY
On Monday, Occidental Petroleum Corp. [NYSE:OXY] saw its stock fall -0.59% to $60.18. Over the last five days, the stock has lost -1.68%. Occidental Petroleum Corp. shares have risen nearly 0.79% since the year began. Nevertheless, the stocks have fallen -2.70% over the past one year. While a 52-week high of $71.18 was reached on 04/12/24, a 52-week low of $55.12 was recorded on 01/18/24. SMA at 50 days reached $61.60, while 200 days put it at $61.63. A total of 6.33 million shares were traded, compared to the trading of 5.19 million shares in the previous session.
Levels Of Support And Resistance For OXY Stock
The 24-hour chart illustrates a support level at 59.58, which if violated will result in even more drops to 58.97. On the upside, there is a resistance level at 60.79. A further resistance level may holdings at 61.39. The Relative Strength Index (RSI) on the 14-day chart is 40.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.41%. Stochastics%K at 13.98% indicates the stock is a buying.
The most recent change occurred on April 08, 2024 when HSBC Securities began covering the stock and recommended ‘”a Hold”‘ rating along with a $65 price target.
