Praxis Capital Management LLC Takes $832,000 Position in Occidental Petroleum Corporation $OXY

Praxis Capital Management LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 20,225 shares of the oil and gas producer’s stock, valued at approximately $832,000. Occidental Petroleum comprises 3.0% of Praxis Capital Management LLC’s portfolio, making the stock its 9th largest position.

A number of other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Occidental Petroleum by 4.8% in the fourth quarter. Swedbank AB now owns 787,586 shares of the oil and gas producer’s stock valued at $32,386,000 after acquiring an additional 35,905 shares during the period. Life Cycle Investment Partners Ltd bought a new position in Occidental Petroleum in the fourth quarter valued at about $20,491,000. Americana Partners LLC bought a new position in Occidental Petroleum in the fourth quarter valued at about $260,000. RD Lewis Holdings Inc. bought a new position in Occidental Petroleum in the fourth quarter valued at about $210,000. Finally, Leonteq Securities AG bought a new position in Occidental Petroleum in the fourth quarter valued at about $2,867,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. HSBC increased their target price on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings raised Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Bank of America increased their target price on Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th. Finally, Stephens increased their target price on Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $62.91.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $58.82 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The stock has a 50-day moving average price of $58.94 and a 200 day moving average price of $49.37. The stock has a market capitalization of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post 5.33 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Occidental Petroleum Company Profile

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.