E&G Advisors LP Has $346,000 Position in Occidental Petroleum Co. (NYSE:OXY)

E&G Advisors LP lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 25.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,003 shares of the oil and gas producer’s stock after selling 2,450 shares during the quarter. E&G Advisors LP’s holdings in Occidental Petroleum were worth $346,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter worth $50,000. New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter worth approximately $59,000. Finally, Westside Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,075 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Occidental Petroleum stock opened at $46.38 on Tuesday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a fifty day simple moving average of $49.43 and a 200 day simple moving average of $52.54. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market cap of $43.52 billion, a P/E ratio of 12.08 and a beta of 1.55.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.90%. Occidental Petroleum’s payout ratio is currently 22.92%.

Analysts Set New Price Targets

Several brokerages have issued reports on OXY. Stephens lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. UBS Group reduced their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. TD Cowen cut their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Truist Financial raised their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Bank of America assumed coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Company Profile

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.