20,225 Shares in Occidental Petroleum Corporation $OXY Bought by Praxis Capital Management LLC

Praxis Capital Management LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,225 shares of the oil and gas producer’s stock, valued at approximately $832,000. Occidental Petroleum accounts for about 3.0% of Praxis Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management grew its stake in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the period. Binnacle Investments Inc bought a new stake in Occidental Petroleum in the third quarter worth $35,000. Garner Asset Management Corp bought a new stake in Occidental Petroleum in the fourth quarter worth $37,000. Elyxium Wealth LLC bought a new stake in Occidental Petroleum in the fourth quarter worth $39,000. Finally, Byrne Asset Management LLC boosted its holdings in Occidental Petroleum by 96.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 600 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on OXY shares. Stephens boosted their target price on Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. HSBC boosted their target price on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Scotiabank boosted their target price on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Susquehanna boosted their target price on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 target price on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.91.

Occidental Petroleum Trading Down 0.0%

Shares of NYSE:OXY opened at $58.82 on Friday. The company has a market cap of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The stock’s fifty day moving average price is $58.94 and its 200-day moving average price is $49.37.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion for 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%.The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Sell-side analysts expect that Occidental Petroleum Corporation will post 5.33 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. 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 is presently 26.20%.

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.