Stock Traders Purchase Large Volume of Occidental Petroleum Call Options (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) was the recipient of some unusual options trading activity on Friday. Investors purchased 84,925 call options on the stock. This represents an increase of 88% compared to the typical daily volume of 45,150 call options.

Analysts Set New Price Targets

Several research analysts recently commented on OXY shares. Seaport Research Partners initiated coverage on Occidental Petroleum in a research report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price target for the company. The Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating and raised their price objective for the company from $63.00 to $69.00 in a research note on Thursday. Stifel Nicolaus began coverage on Occidental Petroleum in a report on Thursday, September 10th. They issued a “hold” rating and a $68.00 target price for the company. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Wednesday, July 8th. Finally, Susquehanna raised their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $65.54.

Occidental Petroleum Trading Up 0.4%

Occidental Petroleum stock traded up $0.26 during mid-day trading on Friday, hitting $58.10. The company’s stock had a trading volume of 6,742,181 shares, compared to its average volume of 12,256,094. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a 50 day moving average of $58.43 and a 200-day moving average of $57.31. Occidental Petroleum has a one year low of $38.80 and a one year high of $67.45. The stock has a market cap of $58.08 billion, a PE ratio of 8.99, a P/E/G ratio of 0.86 and a beta of 0.24.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, research analysts anticipate that Occidental Petroleum will post 6.2 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio (DPR) is 17.34%.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: Goldman Sachs upgraded OXY to Buy from Neutral and raised its price target to $69 from $63. The firm reportedly cited Occidental’s debt-reduction plan, potential for dividend growth, and oil-recovery capabilities, prompting investors to reassess the stock’s upside potential. Occidental Petroleum Gets a Buy from Goldman Sachs
• Positive Sentiment: The upgrade follows Occidental’s strong second-quarter operating performance, including production above the high end of guidance and earnings that exceeded analyst expectations. Management’s focus on advanced recovery and efficiency projects could support improved future cash flow. Occidental Stock Gets an Upgrade
• Neutral Sentiment: Occidental will release third-quarter 2026 results after the market closes on November 9 and hold its earnings conference call on November 10. The announcement provides a near-term event for investors but does not include new operating or financial results. Occidental to Announce Third Quarter Results
• Negative Sentiment: Some portfolio analysis favors Suncor Energy over OXY because of Suncor’s greater geographic diversification and different commodity exposure. Separately, comparisons of major oil dividends emphasize that payout durability can vary significantly when crude prices fall, keeping commodity prices, leverage, and dividend sustainability as risks for Occidental investors. All-Weather Portfolio: I Like Suncor Energy Better Than Occidental Petroleum

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently modified their holdings of the stock. Berkshire Hathaway Inc bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $12,868,205,000. State Street Corp increased its holdings in Occidental Petroleum by 6.6% during the 2nd quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock worth $2,252,271,000 after purchasing an additional 2,870,472 shares during the period. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 84.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock valued at $516,975,000 after purchasing an additional 4,882,834 shares in the last quarter. Danske Bank A S bought a new stake in Occidental Petroleum during the 2nd quarter valued at $172,413,000. Finally, Legal & General Group Plc purchased a new stake in shares of Occidental Petroleum in the 2nd quarter worth $168,860,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

About Occidental Petroleum

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.