Entropy Technologies LP Buys New Position in Occidental Petroleum Corporation $OXY

Entropy Technologies LP bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 285,202 shares of the oil and gas producer’s stock, valued at approximately $11,728,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after acquiring an additional 699,137 shares in the last quarter. State Street Corp raised its holdings in Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after acquiring an additional 828,848 shares in the last quarter. Geode Capital Management LLC raised its holdings in Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after acquiring an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Occidental Petroleum by 0.4% in the 3rd quarter. Invesco Ltd. now owns 5,658,899 shares of the oil and gas producer’s stock valued at $267,383,000 after acquiring an additional 24,755 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Raymond James Financial upped their price target on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley upped their price target on Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price target for the company from $54.00 to $66.00 in a report on Thursday, March 12th. Wells Fargo & Company upped their price target on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 target price for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.74.

Occidental Petroleum Trading Up 1.9%

Shares of OXY opened at $56.53 on Friday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $57.88 and a 200-day simple moving average of $51.07. The stock has a market cap of $56.22 billion, a PE ratio of 14.24 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the firm posted $0.14 EPS. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Occidental Petroleum Company Profile

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.