Independent Advisor Alliance Acquires 1,204 Shares of Occidental Petroleum Co. (NYSE:OXY)

Independent Advisor Alliance lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,931 shares of the oil and gas producer’s stock after purchasing an additional 1,204 shares during the period. Independent Advisor Alliance’s holdings in Occidental Petroleum were worth $2,522,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Stephens Inc. AR grew its holdings in shares of 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 worth $777,000 after purchasing an additional 10,382 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Occidental Petroleum by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after acquiring an additional 22,920 shares during the last quarter. Czech National Bank boosted its holdings in Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after acquiring an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in Occidental Petroleum in the second quarter valued at about $10,331,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Occidental Petroleum by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after acquiring an additional 29,344 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 2.8 %

NYSE:OXY opened at $50.45 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $47.34 billion, a PE ratio of 13.14 and a beta of 1.58. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The stock has a 50-day simple moving average of $51.77 and a 200 day simple moving average of $56.82.

Occidental Petroleum Announces Dividend

The company also recently disclosed 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. 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OXY shares. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets cut their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. UBS Group cut their target price on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group began coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.70.

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.