Miller Howard Investments Inc. NY Has $5.64 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Miller Howard Investments Inc. NY raised its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,393 shares of the oil and gas producer's stock after acquiring an additional 15,822 shares during the period. Miller Howard Investments Inc. NY's holdings in Occidental Petroleum were worth $5,636,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OXY. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum in the third quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum in the third quarter valued at about $27,000. TLW Wealth Management LLC bought a new position in Occidental Petroleum during the fourth quarter worth about $28,000. BKM Wealth Management LLC bought a new position in Occidental Petroleum during the fourth quarter worth about $35,000. Finally, Resurgent Financial Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter worth about $35,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $0.38 during midday trading on Wednesday, reaching $68.93. The company had a trading volume of 8,130,307 shares, compared to its average volume of 8,727,123. The stock has a fifty day simple moving average of $61.76 and a 200 day simple moving average of $60.92. The company has a market capitalization of $61.10 billion, a price-to-earnings ratio of 17.53 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $69.58. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $7.53 billion for the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.72 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 8th will be given a $0.22 dividend. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, March 7th. Occidental Petroleum's payout ratio is currently 22.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OXY. Morgan Stanley raised their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Stephens restated an "overweight" rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Raymond James cut their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating for the company in a research note on Wednesday, January 24th. HSBC began coverage on shares of Occidental Petroleum in a research note on Monday. They set a "hold" rating and a $65.00 price target for the company. Finally, Truist Financial raised their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $70.47.

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.