Voya Investment Management LLC Sells 2,705 Shares of Occidental Petroleum Corporation $OXY

Voya Investment Management LLC decreased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 185,844 shares of the oil and gas producer’s stock after selling 2,705 shares during the period. Voya Investment Management LLC’s holdings in Occidental Petroleum were worth $9,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after buying an additional 12,107,285 shares in the last quarter. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 1.8% in the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after buying an additional 249,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after buying an additional 710,220 shares in the last quarter. Northern Trust Corp increased its position in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock valued at $354,180,000 after buying an additional 110,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock valued at $218,799,000 after buying an additional 195,742 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 4.9%

Occidental Petroleum stock opened at $47.72 on Wednesday. The stock has a 50-day simple moving average of $45.01 and a 200 day simple moving average of $43.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The stock has a market capitalization of $46.98 billion, a P/E ratio of 28.24 and a beta of 1.04. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $56.49.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OXY. Piper Sandler upped their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Morgan Stanley restated an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Scotiabank increased their target price on Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Wells Fargo & Company lowered their target price on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.70.

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.