Diversified Trust Co Takes $1.76 Million Position in Occidental Petroleum Corporation $OXY

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

A number of other large investors have also recently added to or reduced their stakes in the business. Caitlin John LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $29,000. Activest Wealth Management boosted its stake in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC increased its position in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $35,000. Finally, McMillan Office Inc. acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.3%

OXY stock opened at $51.96 on Tuesday. The company’s 50 day moving average price is $56.81 and its 200 day moving average price is $51.60. The firm has a market capitalization of $51.68 billion, a price-to-earnings ratio of 13.09 and a beta of 0.14. 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 debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue was down 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given 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 of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Wolfe Research lifted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Susquehanna boosted their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley increased their target price on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.