Entropy Technologies LP Purchases New Stake in Occidental Petroleum Corporation $OXY

Entropy Technologies LP purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 285,202 shares of the oil and gas producer’s stock, valued at approximately $11,728,000.

Several other large investors have also recently bought and sold shares of OXY. Activest Wealth Management raised its position in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC increased its position in Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Binnacle Investments Inc acquired a new position in Occidental Petroleum in the 3rd quarter worth about $35,000. McMillan Office Inc. acquired a new position in Occidental Petroleum in the 4th quarter worth about $35,000. Finally, Garner Asset Management Corp acquired a new position in Occidental Petroleum in the 4th quarter worth about $37,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OXY has been the topic of several research reports. Wolfe Research upped their target price on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Truist Financial decreased their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, May 8th. The Goldman Sachs Group upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price target for the company in a research note on Thursday, May 21st. Zacks Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, Argus upgraded Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Stock Performance

OXY opened at $56.53 on Friday. The stock has a 50-day moving average of $57.88 and a 200-day moving average of $51.07. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The company has a market cap of $56.22 billion, a PE ratio of 14.24 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio is presently 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.