Occidental Petroleum Corporation $OXY Shares Sold by Entropy Technologies LP

Entropy Technologies LP cut its stake in Occidental Petroleum Corporation (NYSE:OXY) by 4.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 271,582 shares of the oil and gas producer’s stock after selling 13,620 shares during the quarter. Occidental Petroleum comprises approximately 0.8% of Entropy Technologies LP’s portfolio, making the stock its 8th biggest holding. Entropy Technologies LP’s holdings in Occidental Petroleum were worth $17,653,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum by 0.8% during the fourth 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 during the last quarter. State Street Corp boosted its stake in shares of Occidental Petroleum by 2.1% in the fourth quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after acquiring an additional 828,848 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after purchasing an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OXY. BMO Capital Markets lifted their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Raymond James Financial raised their price target on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Wolfe Research boosted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Mizuho upped their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Stephens cut their price objective on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.17.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Down 0.5%

NYSE OXY opened at $57.32 on Friday. The business’s fifty day simple moving average is $54.81 and its 200-day simple moving average is $53.50. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The firm has a market cap of $57.02 billion, a PE ratio of 14.44 and a beta of 0.15. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Occidental Petroleum’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s payout ratio is presently 26.20%.

Occidental Petroleum 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.