96,621 Occidental Petroleum Corporation $OXY Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 19.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,494 shares of the oil and gas producer’s stock after selling 96,621 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Occidental Petroleum were worth $22,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lakeshore Capital Group Inc. raised its stake in shares of Occidental Petroleum by 11.5% during the third quarter. Lakeshore Capital Group Inc. now owns 5,034 shares of the oil and gas producer’s stock valued at $278,000 after acquiring an additional 521 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Occidental Petroleum by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 112,550 shares of the oil and gas producer’s stock worth $6,226,000 after purchasing an additional 2,030 shares in the last quarter. Family Wealth Partners LLC bought a new position in Occidental Petroleum in the third quarter worth approximately $260,000. CWA Asset Management Group LLC increased its holdings in Occidental Petroleum by 1.4% during the 3rd quarter. CWA Asset Management Group LLC now owns 16,957 shares of the oil and gas producer’s stock worth $938,000 after purchasing an additional 227 shares during the period. Finally, Investment Research Partners LLC purchased a new position in Occidental Petroleum during the 3rd quarter worth $354,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 2.7%

Shares of NYSE:OXY opened at $64.18 on Friday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The business’s fifty day simple moving average is $59.86 and its 200-day simple moving average is $57.25. The company has a market capitalization of $64.15 billion, a PE ratio of 9.93, a P/E/G ratio of 0.73 and a beta of 0.24. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 6.72 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.7%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 10th. Occidental Petroleum’s payout ratio is presently 17.34%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial increased their price target on Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. Citigroup decreased their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Susquehanna upped their price objective on shares of Occidental Petroleum from $70.00 to $77.00 and gave the stock a “positive” rating in a research note on Tuesday. Weiss Ratings raised shares of Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $68.00 target price on shares of Occidental Petroleum in a report on Wednesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $67.46.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.