Occidental Petroleum Corporation $OXY Shares Purchased by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 20.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,821 shares of the oil and gas producer’s stock after buying an additional 15,150 shares during the period. Miller Howard Investments Inc. NY’s holdings in Occidental Petroleum were worth $5,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Athena Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 1.2% in the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after acquiring an additional 214 shares in the last quarter. Carrera Capital Advisors increased its holdings in Occidental Petroleum by 0.5% during the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 227 shares during the last quarter. Summit Securities Group LLC raised its position in shares of Occidental Petroleum by 18.5% in the 4th quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 229 shares in the last quarter. Apella Capital LLC boosted its stake in shares of Occidental Petroleum by 3.4% during the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 233 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in shares of Occidental Petroleum by 1.8% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 249 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY opened at $52.34 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $56.70 and its 200 day moving average price is $51.67. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a market cap of $52.06 billion, a price-to-earnings ratio of 13.18 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.

Occidental Petroleum Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on OXY shares. Piper Sandler upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $66.00 in a research note on Thursday, March 12th. Mizuho raised their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. BMO Capital Markets upped their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Capital One Financial increased their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Finally, Citigroup decreased their price target on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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.