Voya Investment Management LLC Cuts Position in Occidental Petroleum Corporation $OXY

Voya Investment Management LLC lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 20.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 201,755 shares of the oil and gas producer’s stock after selling 52,277 shares during the quarter. Voya Investment Management LLC’s holdings in Occidental Petroleum were worth $9,533,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Occidental Petroleum by 10.3% during the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after buying an additional 8,273,030 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 22.0% during the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after acquiring an additional 3,267,269 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Occidental Petroleum by 926.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after purchasing an additional 701,846 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $28,584,000. Finally, American Century Companies Inc. raised its position in Occidental Petroleum by 22.3% in the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock valued at $149,247,000 after purchasing an additional 647,243 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In other news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the acquisition, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $40.09 on Wednesday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market cap of $39.49 billion, a P/E ratio of 29.47 and a beta of 0.39. The stock has a 50 day moving average of $41.32 and a 200-day moving average of $43.67.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. On average, analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 70.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho upped their target price on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $44.00 price target (down from $51.00) on shares of Occidental Petroleum in a research report on Monday, December 8th. Morgan Stanley lowered their price objective on shares of Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. Evercore ISI reduced their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. Finally, Piper Sandler decreased their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.95.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.