Occidental Petroleum Corporation $OXY Stake Cut by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 49.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,610 shares of the oil and gas producer’s stock after selling 10,485 shares during the period. Salem Investment Counselors Inc.’s holdings in Occidental Petroleum were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. City Holding Co. boosted its position in shares of Occidental Petroleum by 250.0% during the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 500 shares during the period. Binnacle Investments Inc acquired a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $35,000. GoalVest Advisory LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at $38,000. Tripletail Wealth Management LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at $49,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in Occidental Petroleum during the 2nd quarter worth $51,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Susquehanna raised their price target on Occidental Petroleum from $51.00 to $60.00 and gave the company a “positive” rating in a report on Friday, February 20th. Jefferies Financial Group increased their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Bank of America increased their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th. The Goldman Sachs Group raised their price objective on shares of Occidental Petroleum from $41.00 to $54.00 and gave the company a “sell” rating in a research note on Wednesday, March 11th. Finally, BMO Capital Markets upped their target price on Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.59.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $61.18 on Wednesday. The company has a 50-day moving average of $49.92 and a 200-day moving average of $45.21. The firm has a market cap of $60.67 billion, a price-to-earnings ratio of 38.00 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $62.11.

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

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. Occidental Petroleum’s payout ratio is presently 64.60%.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Analyst / comparison pieces argue OXY stands to benefit more than some Permian peers from oil-price spikes due to limited hedging (boosting near-term cash flow) and stronger earnings revisions — a structural reason for relative outperformance. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Positive Sentiment: JPMorgan/other broker activity: recent upgrade/newsflow (reported 3/23) and coverage comparisons have supported investor interest and momentum in OXY. Occidental Petroleum Upgraded at JPMorgan Chase & Co.
• Positive Sentiment: Macro headlines (reported pre-market) — constructive U.S.-Iran diplomatic comments — lifted crude futures and oil-linked names, providing a tailwind to OXY shares. Pre-Market Turns Green
• Positive Sentiment: Market commentary and screens are including OXY among oil stocks with outsized upside potential amid the recent crude rally, which can attract momentum and thematic inflows. 3 Oil Stocks Set to Deliver 50%+ Returns in 2026
• Neutral Sentiment: Truist initiated coverage with a “Hold” and $65 price target (modest upside vs. the current level) — a neutral signal that may cap short-term upside until clearer catalysts emerge. Benzinga Coverage Note
• Neutral Sentiment: Several articles ask whether the recent run makes OXY fully valued now; these pieces can temper new-money flows even as momentum remains. Is It Too Late To Consider Occidental Petroleum?
• Negative Sentiment: Company fundamentals to watch: last reported quarter beat EPS but missed revenue and year-over-year revenue was down; those execution/volume signals could restrain valuation if higher oil prices don’t translate into sustainable top-line growth. (Quarterly details reported Feb 18.)

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.