E&G Advisors LP decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,923 shares of the oil and gas producer’s stock after selling 1,400 shares during the period. E&G Advisors LP’s holdings in Occidental Petroleum Corporation were worth $834,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OXY. BlackRock Inc. raised its stake in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after buying an additional 57,202,942 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after buying an additional 983,992 shares during the last quarter. State Street Corp increased its position in shares of Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after buying an additional 681,032 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after buying an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock worth $862,693,000 after buying an additional 360,721 shares during the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (NYSE:OXY) traded down 0.220% on Friday, hitting $61.205. The stock had a trading volume of 1,213,382 shares. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The firm has a market cap of $46.80 billion, a P/E ratio of 431.021 and a beta of 0.65. The firm’s 50-day moving average price is $60.49 and its 200-day moving average price is $62.64.

Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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A number of research analysts recently commented on the company. Scotiabank restated a “hold” rating and set a $68.00 price objective on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. BMO Capital Markets set a $65.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.38.

In related news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. Insiders own 0.32% of the company’s stock.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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