Miller Howard Investments Inc. NY grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.3% in the first quarter, HoldingsChannel.com reports. The fund owned 1,048,081 shares of the oil and gas producer’s stock after acquiring an additional 169,712 shares during the quarter. Occidental Petroleum accounts for 1.9% of Miller Howard Investments Inc. NY’s holdings, making the stock its 22nd biggest position. Miller Howard Investments Inc. NY’s holdings in Occidental Petroleum were worth $69,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $475,929,000. Oregon Public Employees Retirement Fund grew its stake in shares of Occidental Petroleum by 5,978.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock valued at $83,000 after buying an additional 5,021,655 shares during the period. Dodge & Cox grew its stake in shares of Occidental Petroleum by 58.7% in the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after buying an additional 3,656,670 shares during the period. Millennium Management LLC grew its stake in shares of Occidental Petroleum by 401.0% in the 4th quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock valued at $201,034,000 after buying an additional 2,621,463 shares during the period. Finally, Vanguard Group Inc grew its stake in shares of Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after buying an additional 1,370,841 shares during the period. Hedge funds and other institutional investors own 84.34% of the company’s stock.

NYSE OXY traded up $1.23 during trading hours on Monday, hitting $63.05. The company’s stock had a trading volume of 5,738,402 shares, compared to its average volume of 4,646,472. Occidental Petroleum Co. has a 52 week low of $56.83 and a 52 week high of $87.67. The stock has a market cap of $46.78 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.34.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $0.41 EPS. Occidental Petroleum’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.95%. Occidental Petroleum’s payout ratio is currently 62.28%.

Several analysts have recently commented on OXY shares. KeyCorp reduced their target price on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday. Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Barclays cut shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $77.00 to $70.00 in a research report on Friday, February 15th. Finally, Mizuho cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $70.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $82.67.

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Occidental Petroleum Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

Further Reading: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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