ING Groep NV Sells 12,769 Shares of Occidental Petroleum Co. (NYSE:OXY)

ING Groep NV trimmed its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 42.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,651 shares of the oil and gas producer's stock after selling 12,769 shares during the quarter. ING Groep NV's holdings in Occidental Petroleum were worth $910,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Earnest Partners LLC grew its holdings in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer's stock worth $445,000 after purchasing an additional 173 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer's stock valued at $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer's stock valued at $1,735,000 after buying an additional 176 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer's stock valued at $1,109,000 after buying an additional 182 shares during the last quarter. Finally, Gateway Advisory LLC grew its holdings in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer's stock valued at $306,000 after buying an additional 184 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating for the company in a report on Monday, September 30th. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday. Finally, Wolfe Research lifted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average target price of $63.65.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $1.00 during trading hours on Monday, hitting $50.97. The company's stock had a trading volume of 9,212,976 shares, compared to its average volume of 9,377,662. The business has a 50 day moving average price of $51.80 and a two-hundred day moving average price of $57.38. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a market cap of $47.83 billion, a PE ratio of 13.34 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Occidental Petroleum's payout ratio is 22.92%.

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.