Miller Howard Investments Inc. NY Purchases 3,620 Shares of Occidental Petroleum Co. (NYSE:OXY)

Miller Howard Investments Inc. NY raised its position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,013 shares of the oil and gas producer’s stock after acquiring an additional 3,620 shares during the period. Miller Howard Investments Inc. NY’s holdings in Occidental Petroleum were worth $6,370,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $335,000. Pearl River Capital LLC bought a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $284,000. Mariner LLC boosted its stake in shares of Occidental Petroleum by 7.1% in the third quarter. Mariner LLC now owns 95,708 shares of the oil and gas producer’s stock valued at $6,210,000 after buying an additional 6,368 shares during the period. Algert Global LLC bought a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $383,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Occidental Petroleum by 2.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,326 shares of the oil and gas producer’s stock valued at $475,000 after buying an additional 200 shares during the period. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OXY. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price target for the company. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Susquehanna boosted their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Barclays began coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.56.

Read Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Trading Up 3.8 %

OXY traded up $2.33 during trading on Monday, reaching $63.25. 10,293,052 shares of the stock traded hands, compared to its average volume of 8,138,363. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $56.08 billion, a PE ratio of 17.28 and a beta of 1.59. The stock’s 50-day moving average is $63.22 and its 200 day moving average is $61.59. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Equities analysts anticipate that Occidental Petroleum Co. will post 3.87 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the transaction, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Company Profile

(Free Report)

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.

See Also

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

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