Independent Advisor Alliance Has $2.52 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Independent Advisor Alliance increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the 3rd quarter, according to the company in its most recent filing 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 quarter. Independent Advisor Alliance’s holdings in Occidental Petroleum were worth $2,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in 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 purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the 3rd quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the 1st quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the 1st quarter worth approximately $44,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the second quarter worth approximately $53,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank cut their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. TD Cowen cut their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Evercore ISI cut their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets cut their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $50.45 on Tuesday. The business’s fifty day moving average price is $51.77 and its two-hundred day moving average price is $56.82. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock has a market capitalization of $47.34 billion, a price-to-earnings ratio of 13.14 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.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

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.