27,047 Shares in Occidental Petroleum Corporation $OXY Bought by Diversified Trust Co

Key Points

• Diversified Trust Co bought a new stake in Occidental Petroleum during the first quarter, purchasing 27,047 shares worth about $1.76 million.
• Occidental Petroleum reported Q1 EPS of $1.06, beating analysts’ estimate of $0.60, though revenue came in below expectations at $5.11 billion.
• The company announced a quarterly dividend of $0.26 per share, implying a 2.0% yield and an annualized payout of $1.04 per share.

Diversified Trust Co purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,047 shares of the oil and gas producer's stock, valued at approximately $1,758,000.

A number of other institutional investors have also modified their holdings of OXY. Vanguard Group Inc. boosted its position in 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 worth $3,696,716,000 after purchasing an additional 699,137 shares in the last quarter. State Street Corp lifted its position in shares of Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer's stock valued at $1,635,263,000 after buying an additional 828,848 shares in the last quarter. Geode Capital Management LLC grew its stake in Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock valued at $771,949,000 after acquiring an additional 167,518 shares during the period. Dimensional Fund Advisors LP raised its position in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. Finally, Invesco Ltd. lifted its holdings in Occidental Petroleum by 18.9% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Up 0.3%

Shares of Occidental Petroleum stock opened at $51.96 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The stock's 50 day simple moving average is $56.81 and its 200-day simple moving average is $51.60. The stock has a market cap of $51.68 billion, a P/E ratio of 13.09 and a beta of 0.14. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion during 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 business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum's payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research reports. Piper Sandler raised shares of Occidental Petroleum from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $54.00 to $66.00 in a research note on Thursday, March 12th. Barclays upgraded Occidental Petroleum from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $59.00 to $72.00 in a report on Tuesday, May 26th. TD Cowen boosted their price objective on Occidental Petroleum from $48.00 to $54.00 and gave the stock a "hold" rating in a research note on Monday, February 23rd. Roth Mkm increased their target price on Occidental Petroleum from $45.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, April 15th. Finally, Weiss Ratings raised Occidental Petroleum from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $63.74.

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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