Entropy Technologies LP decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,582 shares of the oil and gas producer’s stock after selling 13,620 shares during the quarter. Occidental Petroleum accounts for approximately 0.8% of Entropy Technologies LP’s investment portfolio, making the stock its 8th largest holding. Entropy Technologies LP’s holdings in Occidental Petroleum were worth $17,653,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Occidental Petroleum by 21.6% during 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 during the period. Bank of New York Mellon Corp raised its holdings in shares of Occidental Petroleum by 44.6% during the first quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock worth $374,470,000 after purchasing an additional 1,776,922 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after purchasing an additional 1,393,638 shares during the period. Wellington Management Group LLP lifted its position in Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after purchasing an additional 1,361,541 shares during the period. Finally, Sei Investments Co. boosted its holdings in Occidental Petroleum by 247.0% in the first quarter. Sei Investments Co. now owns 1,734,052 shares of the oil and gas producer’s stock valued at $112,719,000 after purchasing an additional 1,234,350 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on OXY. Citigroup reduced their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. 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 note on Monday, April 6th. Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Wednesday, July 8th. Morgan Stanley decreased their price target on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 26th. Finally, The Goldman Sachs Group lowered their price objective on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $64.17.
Occidental Petroleum Trading Down 0.5%
Shares of Occidental Petroleum stock opened at $57.32 on Friday. The firm has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $53.50. 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 Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a market cap of $57.02 billion, a P/E ratio of 14.44 and a beta of 0.15.
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. As a group, equities analysts predict that Occidental Petroleum Corporation will post 5.66 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The firm also recently disclosed 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 of this dividend was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.
Insider Activity at Occidental Petroleum
In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.
About Occidental Petroleum
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.
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