Alternative Investment Advisors LLC. Makes New $1 Million Investment in Occidental Petroleum Co. (NYSE:OXY)

Alternative Investment Advisors LLC. purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,432 shares of the oil and gas producer's stock, valued at approximately $1,002,000. Occidental Petroleum makes up about 0.5% of Alternative Investment Advisors LLC.'s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the third quarter valued at about $32,000. LRI Investments LLC grew its stake in Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer's stock valued at $57,000 after purchasing an additional 233 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum during the 3rd quarter worth approximately $50,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $87,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of OXY traded down $0.55 during mid-day trading on Friday, reaching $47.64. 10,402,561 shares of the company's stock traded hands, compared to its average volume of 9,408,375. Occidental Petroleum Co. has a 12 month low of $47.20 and a 12 month high of $71.18. The stock has a market capitalization of $44.70 billion, a P/E ratio of 12.41 and a beta of 1.57. The business's 50-day moving average price is $51.03 and its 200-day moving average price is $55.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.85%. Occidental Petroleum's payout ratio is 22.92%.

Analyst Ratings Changes

A number of analysts have recently weighed in on OXY shares. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Tuesday. BMO Capital Markets dropped their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Mizuho decreased their price target on Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Scotiabank reduced their target price on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, UBS Group decreased their target price on Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.75.

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.