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

ING Groep NV decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 42.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 17,651 shares of the oil and gas producer’s stock after selling 12,769 shares during the period. ING Groep NV’s holdings in Occidental Petroleum were worth $910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. Fortitude Family Office LLC increased its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $53,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $49.97 on Monday. The firm has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. The stock’s fifty day moving average price is $51.80 and its two-hundred day moving average price is $57.38. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.76%. Occidental Petroleum’s payout ratio is 22.92%.

Analysts Set New Price Targets

OXY has been the subject of several recent research reports. Scotiabank decreased their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Evercore ISI cut their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $63.70.

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.