Aviance Capital Partners LLC Has $2.41 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Aviance Capital Partners LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 32.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,658 shares of the oil and gas producer's stock after selling 22,467 shares during the quarter. Aviance Capital Partners LLC's holdings in Occidental Petroleum were worth $2,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake in shares of 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 buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum during the first quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the third quarter worth approximately $87,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Susquehanna cut their price objective on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Evercore ISI reduced their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research report on Monday, September 30th. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays decreased their price objective on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average target price of $63.65.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.41 during trading hours on Tuesday, reaching $50.50. The stock had a trading volume of 8,030,892 shares, compared to its average volume of 9,384,176. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a market cap of $47.39 billion, a price-to-earnings ratio of 13.13 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business's fifty day moving average is $51.77 and its two-hundred day moving average is $57.29.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum's payout ratio is presently 22.92%.

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.