Legal & General Group Plc Increases Stake in Occidental Petroleum Corporation $OXY

Legal & General Group Plc increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,801,441 shares of the oil and gas producer’s stock after buying an additional 212,172 shares during the period. Legal & General Group Plc owned about 0.39% of Occidental Petroleum worth $179,618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OXY. City Holding Co. lifted its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $38,000. Tripletail Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $49,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $51,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Occidental Petroleum by 47.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Morgan Stanley decreased their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Barclays increased their price objective on Occidental Petroleum from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. TD Cowen raised their target price on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, Wolfe Research lowered their price target on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $53.48.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Supply-risk rally — Multiple reports say OXY moved up after tanker explosions and comments suggesting the Strait of Hormuz could be closed, driving near-term oil-supply fears that boost producers’ near-term outlook. Occidental Petroleum Stock Surges Thursday: What’s Driving The Action?
• Positive Sentiment: Geopolitical headlines and rhetoric — Coverage highlights Iran’s new Supreme Leader and hardline comments that have amplified supply-risk pricing in oil markets, supporting energy names including OXY. Why Occidental Petroleum Rallied Today
• Positive Sentiment: Macro/futures support — Long-dated oil futures rose, and Barron’s notes energy stocks are finally catching up with crude moves, helping lift OXY alongside peers. Energy Stocks Like Occidental Have Lagged Oil Price Hikes. Why They’re Catching Up.
• Positive Sentiment: Analyst upgrade — Piper Sandler upgraded OXY to “overweight” and raised its price target to $66, giving another near-term buy-side catalyst. Piper Sandler Upgrades Occidental Petroleum (OXY) to Overweight
• Neutral Sentiment: Technical milestone — OXY hit a 52-week high intraday, which can attract momentum flows but doesn’t change fundamentals on its own. Occidental Petroleum stock hits 52-week high
• Neutral Sentiment: Street estimates and targets evolving — Coverage notes price-target clustering in the mid-to-high $50s and some bullish forecasts (e.g., $69 this year), reflecting shifting oil assumptions and guidance. Occidental Price Prediction: Wall Street Thinks OXY Goes to $69 This Year
• Neutral Sentiment: Corporate finance item to monitor — Coverage flags Occidental’s recent $1.20B debt tender and covenant changes; investors should watch details and capital-allocation commentary for balance-sheet implications. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Conflicting analyst view — Goldman Sachs raised its price target to $54 but kept a “sell” rating, implying downside versus current levels and highlighting divergent Street views. Occidental Petroleum Given New $54.00 Price Target at The Goldman Sachs Group
• Negative Sentiment: Profit-taking/valuation concerns — Some analysts argue the oil rally has priced in easy gains for OXY and that incremental upside may be limited from here. Occidental Petroleum: Oil Rally Overly Done – Easy Gains Behind Us
• Negative Sentiment: Policy risk — President Trump’s comment about tapping the Strategic Petroleum Reserve could ease prices if implemented, which would cap upside for producers including OXY. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs

Occidental Petroleum Stock Performance

NYSE OXY opened at $58.47 on Friday. The company has a fifty day moving average of $47.22 and a two-hundred day moving average of $44.55. The company has a market capitalization of $57.67 billion, a PE ratio of 36.32 and a beta of 0.34. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $59.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74.

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

Occidental Petroleum Increases Dividend

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

Insiders Place Their Bets

In other news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the acquisition, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.