TB Alternative Assets Ltd. Purchases New Shares in Occidental Petroleum Co. (NYSE:OXY)

TB Alternative Assets Ltd. acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 329,082 shares of the oil and gas producer's stock, valued at approximately $16,260,000. Occidental Petroleum makes up approximately 4.2% of TB Alternative Assets Ltd.'s holdings, making the stock its 9th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Certified Advisory Corp bought a new position in Occidental Petroleum during the 4th quarter worth approximately $476,000. Rule One Partners LLC bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $14,199,000. Stephens Inc. AR raised its stake in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer's stock valued at $777,000 after buying an additional 10,382 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth about $2,509,000. Finally, Sarasin & Partners LLP lifted its stake in shares of Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $1.31 during mid-day trading on Tuesday, reaching $50.66. The company's stock had a trading volume of 7,733,668 shares, compared to its average volume of 9,604,785. The stock has a fifty day moving average of $49.72 and a two-hundred day moving average of $53.32. The firm has a market capitalization of $47.54 billion, a PE ratio of 13.20 and a beta of 1.57. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares of the company's stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OXY. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Monday, December 9th. Scotiabank dropped their price target on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Barclays reduced 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. BMO Capital Markets dropped their target price on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating on the stock in a research report on Friday, October 4th. Finally, Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $62.19.

Occidental Petroleum 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.