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Independent Director William Klesse Just Bought 6.3% More Shares In Occidental Petroleum Corporation (NYSE:OXY)

Simply Wall St
·3 mins read

Investors who take an interest in Occidental Petroleum Corporation (NYSE:OXY) should definitely note that the Independent Director, William Klesse, recently paid US$13.43 per share to buy US$134k worth of the stock. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 6.3%.

View our latest analysis for Occidental Petroleum

The Last 12 Months Of Insider Transactions At Occidental Petroleum

Over the last year, we can see that the biggest insider sale was by the Senior Vice President of Strategy, Oscar Brown, for US$1.3m worth of shares, at about US$23.97 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$13.04. So it may not shed much light on insider confidence at current levels. The only individual insider seller over the last year was Oscar Brown.

Happily, we note that in the last year insiders paid US$2.8m for 99.66k shares. On the other hand they divested 93.91k shares, for US$1.7m. In the last twelve months there was more buying than selling by Occidental Petroleum insiders. Their average price was about US$27.85. These transactions suggest that insiders have considered the current price attractive. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
insider-trading-volume

Occidental Petroleum is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Does Occidental Petroleum Boast High Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Occidental Petroleum insiders own about US$28m worth of shares. That equates to 0.2% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About Occidental Petroleum Insiders?

Unfortunately, there has been more insider selling of Occidental Petroleum stock, than buying, in the last three months. On the other hand, the insider transactions over the last year are encouraging. We like that insiders own a fair amount of the company. So we're happy enough to look past some selling. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - Occidental Petroleum has 4 warning signs we think you should be aware of.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.