Dodge & Cox Reduces Stock Holdings in Occidental Petroleum Corporation $OXY

Dodge & Cox lessened its stake in Occidental Petroleum Corporation (NYSE:OXY) by 0.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,883,371 shares of the oil and gas producer’s stock after selling 371,001 shares during the quarter. Occidental Petroleum makes up approximately 2.0% of Dodge & Cox’s investment portfolio, making the stock its 10th largest position. Dodge & Cox owned about 0.08% of Occidental Petroleum worth $3,774,489,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Woodline Partners LP grew its position in shares of Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after acquiring an additional 16,506 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $327,000. ProShare Advisors LLC lifted its stake in Occidental Petroleum by 19.6% in the 2nd quarter. ProShare Advisors LLC now owns 154,080 shares of the oil and gas producer’s stock valued at $6,473,000 after purchasing an additional 25,292 shares during the last quarter. Vise Technologies Inc. bought a new position in Occidental Petroleum during the second quarter worth about $755,000. Finally, National Pension Service grew its holdings in Occidental Petroleum by 2.8% during the second quarter. National Pension Service now owns 948,436 shares of the oil and gas producer’s stock worth $39,844,000 after purchasing an additional 25,943 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upped their price objective on Occidental Petroleum from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Scotiabank decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Zacks Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Wells Fargo & Company raised shares of Occidental Petroleum from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $47.00 to $69.00 in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $53.48.

Key Headlines Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Piper Sandler upgraded OXY to Overweight and raised its price target to $66, signaling stronger analyst conviction and providing tangible upside from current levels. Positive Report for Occidental Petroleum (OXY) from Piper Sandler
• Positive Sentiment: Coverage and headlines explain a roughly 40% move in OXY YTD — driven by oil‑price strength, Permian operational outperformance and visible debt reduction — reinforcing the narrative that fundamentals, not just momentum, are supporting the rally. What’s Behind The 40% Rise In OXY Stock?
• Positive Sentiment: Zacks notes OXY outperformed the energy group (≈+27% in a month) and cites rising oil, Permian strength and debt paydown as drivers — a bullish confirmation for investors focused on fundamentals and cash‑flow improvement. OXY Outperforms Industry in Past Month: Buy, Hold or Sell the Stock?
• Positive Sentiment: Intraday price jumps and above‑average volume coincided with upward earnings‑estimate revisions, suggesting analysts are beginning to bake in more upside for OXY. Occidental (OXY) Soars 5.1%: Is Further Upside Left in the Stock?
• Positive Sentiment: Broker activity also includes a Wells Fargo upgrade on the company’s equity warrant vehicle (OXY.WS), a signal that some desks see additional value in Occidental‑linked securities. Wells Fargo upgrades Occidental Petroleum Corporation – Equity Warrant (OXY.WS)
• Neutral Sentiment: Sector momentum from rising oil and Middle East supply‑concern headlines (tanker attacks, Strait of Hormuz rhetoric) is lifting energy peers broadly, which benefits OXY but also adds geopolitical volatility risk. Occidental Petroleum Stock Surges Thursday: What’s Driving The Action?
• Neutral Sentiment: Goldman assigned a $54 price target (and other outlets list varying targets), showing analyst views still diverge on fair value — useful context for investors deciding entry points or profit‑taking. Occidental Petroleum (NYSE:OXY) Given New $54.00 Price Target at The Goldman Sachs Group
• Neutral Sentiment: Occidental disclosed a $1.20B debt tender and covenant changes; this touches capital structure and may reduce near‑term leverage risks but invites scrutiny over terms and longer‑run funding flexibility. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Some analysts and commentaries warn the oil‑led rally may be overextended and that easy gains could be behind the stock, implying higher near‑term downside risk if oil or macro sentiment reverses. Occidental Petroleum: Oil Rally Overly Done – Easy Gains Behind Us

Insiders Place Their Bets

In related news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the transaction, the director owned 218,913 shares in the company, valued at $8,533,228.74. The trade was a 2.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $57.91 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of 35.97 and a beta of 0.34. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $59.15. The company has a 50-day simple moving average of $47.53 and a two-hundred day simple moving average of $44.63.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio is 64.60%.

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.