Voya Investment Management LLC Sells 255,313 Shares of Occidental Petroleum Co. (NYSE:OXY)

Voya Investment Management LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 57.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,549 shares of the oil and gas producer's stock after selling 255,313 shares during the quarter. Voya Investment Management LLC's holdings in Occidental Petroleum were worth $9,316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OXY. Vanguard Group Inc. increased its stake in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Occidental Petroleum by 48.1% in the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after buying an additional 1,337,728 shares in the last quarter. Invesco Ltd. increased its stake in shares of Occidental Petroleum by 25.2% in the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares in the last quarter. Scharf Investments LLC increased its stake in shares of Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock valued at $121,600,000 after buying an additional 805,525 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after purchasing an additional 398,467 shares during the period. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of research reports. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Finally, Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $54.19.

Occidental Petroleum Trading Up 0.4 %

Shares of NYSE:OXY opened at $40.51 on Tuesday. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $68.43. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company's fifty day simple moving average is $44.53 and its 200 day simple moving average is $47.93. The firm has a market cap of $38.07 billion, a price-to-earnings ratio of 16.60 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a $0.24 dividend. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.37%. The ex-dividend date was Monday, March 10th. Occidental Petroleum's payout ratio is presently 39.34%.

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.

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