Entropy Technologies LP Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Entropy Technologies LP purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the first quarter, HoldingsChannel.com reports. The fund purchased 64,902 shares of the oil and gas producer’s stock, valued at approximately $4,218,000.

A number of other institutional investors have also recently made changes to their positions in OXY. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Occidental Petroleum by 51.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after buying an additional 532,847 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock worth $83,568,000 after buying an additional 483,422 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OXY. Scotiabank dropped their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Citigroup dropped their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Truist Financial downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $84.00 to $69.00 in a report on Thursday, May 16th. Finally, Stephens dropped their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.87.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $1.04 on Wednesday, hitting $63.16. 7,915,890 shares of the company traded hands, compared to its average volume of 7,873,144. The stock has a market capitalization of $56.00 billion, a P/E ratio of 17.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The business has a 50-day simple moving average of $61.86 and a 200 day simple moving average of $61.93.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. Research analysts expect that Occidental Petroleum Co. will post 3.9 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, June 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Monday, June 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the purchase, the insider now directly owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.