Entropy Technologies LP Sells 220,759 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Entropy Technologies LP has dramatically reduced its holdings in Occidental Petroleum Corporation by 92.3%, selling 220,759 shares and now owning only 18,413 shares worth approximately $909,000.
• Multiple analysts have adjusted their price targets and ratings on Occidental Petroleum, with a consensus rating of "Hold" and a target price of $53.71, reflecting a mix of cautious and optimistic views on the stock.
• Occidental Petroleum has announced a quarterly dividend of $0.24 per share, payable on October 15th, which results in an annualized yield of 2.2% based on its current payout ratio of 56.80%.

Entropy Technologies LP reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 92.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,413 shares of the oil and gas producer's stock after selling 220,759 shares during the period. Entropy Technologies LP's holdings in Occidental Petroleum were worth $909,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $26,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum during the 4th quarter worth $32,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 407 shares during the period. American National Bank & Trust acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $39,000. Finally, Quarry LP increased its stake in Occidental Petroleum by 615.2% in the 4th quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after buying an additional 849 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OXY. UBS Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Barclays upped their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Piper Sandler upped their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Scotiabank boosted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Stephens reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $53.71.

Occidental Petroleum Stock Performance

NYSE OXY opened at $43.74 on Tuesday. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $59.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The company has a 50-day simple moving average of $43.98 and a 200 day simple moving average of $44.25. The company has a market capitalization of $43.06 billion, a PE ratio of 25.88 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same period in the prior year, the company posted $1.03 EPS. Occidental Petroleum's revenue was down 6.1% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's payout ratio is presently 56.80%.

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.

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