Alternative Investment Advisors LLC. Purchases Shares of 19,432 Occidental Petroleum Co. (NYSE:OXY)

Alternative Investment Advisors LLC. acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,432 shares of the oil and gas producer’s stock, valued at approximately $1,002,000. Occidental Petroleum accounts for about 0.5% of Alternative Investment Advisors LLC.’s holdings, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter worth approximately $50,000. Strategic Financial Concepts LLC bought a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $53,000. Finally, LRI Investments LLC grew its stake in shares of Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 233 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 1.3 %

Shares of OXY traded down $0.63 during midday trading on Friday, hitting $47.56. The stock had a trading volume of 2,649,427 shares, compared to its average volume of 9,374,723. 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 firm has a market cap of $44.63 billion, a price-to-earnings ratio of 12.56 and a beta of 1.57. The company has a 50 day simple moving average of $51.03 and a two-hundred day simple moving average of $55.66. Occidental Petroleum Co. has a twelve month low of $47.20 and a twelve month high of $71.18.

Occidental Petroleum Announces Dividend

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

Analyst Ratings Changes

OXY has been the topic of several research analyst reports. Stephens raised their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. BMO Capital Markets cut their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Susquehanna lowered their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Finally, Jefferies Financial Group lifted their target price 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 equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.75.

About Occidental Petroleum

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.