Miller Howard Investments Inc. NY Has $3.28 Million Stake in Occidental Petroleum Corporation $OXY

Key Points

• Miller Howard Investments Inc. has reduced its stake in Occidental Petroleum by 7.1%, selling 5,961 shares and currently holding a total of 78,104 shares valued at approximately $3.28 million.
• Recent analyst ratings for Occidental Petroleum show a mixed outlook, with four "Buy" ratings, seventeen "Hold" ratings, and two "Sell" ratings, leading to an average target price of $54.70.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, with a payment date set for October 15th, which results in an annualized yield of 2.1%.

Miller Howard Investments Inc. NY trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,104 shares of the oil and gas producer's stock after selling 5,961 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Occidental Petroleum were worth $3,281,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OXY. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum in the fourth quarter worth about $32,000. Grove Bank & Trust grew its stake in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the period. American National Bank & Trust purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC grew its position in shares of Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock worth $50,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on OXY shares. Mizuho cut their price target on Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Scotiabank boosted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. UBS Group boosted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Finally, Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.70.

Occidental Petroleum Trading Down 2.5%

OXY traded down $1.20 during trading on Friday, reaching $46.16. 14,262,200 shares of the stock traded hands, compared to its average volume of 7,710,747. The stock's 50-day moving average is $45.07 and its 200 day moving average is $43.81. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49. The stock has a market capitalization of $45.44 billion, a PE ratio of 27.31 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

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

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is 56.80%.

Occidental Petroleum Company Profile

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.