Assenagon Asset Management S.A. Has $82.69 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Key Points

• Assenagon Asset Management increased its Occidental Petroleum position by 326.5% in the second quarter, acquiring 1.30 million additional shares for a total stake worth approximately $82.7 million. Institutional investors and hedge funds collectively own 88.7% of OXY.
• Occidental reported quarterly earnings of $2.40 per share, beating estimates of $1.83, while revenue rose 53.4% year over year to $8.06 billion. The company also raised its quarterly dividend from $0.26 to $0.28 per share, producing a 2.0% annualized yield.
• Analyst sentiment remains mixed, with 10 Buy ratings and 16 Holds for an overall “Hold” consensus and an average price target of $64.61. Several firms recently raised their targets, including Wells Fargo to $79 and Barclays to $75.

Assenagon Asset Management S.A. raised its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 326.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,420 shares of the oil and gas producer's stock after buying an additional 1,303,263 shares during the quarter. Assenagon Asset Management S.A. owned 0.17% of Occidental Petroleum worth $82,687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer's stock valued at $3,696,716,000 after acquiring an additional 699,137 shares in the last quarter. State Street Corp boosted its position in shares of Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer's stock valued at $1,635,263,000 after purchasing an additional 828,848 shares in the last quarter. Geode Capital Management LLC grew its stake in Occidental Petroleum by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock worth $771,949,000 after purchasing an additional 167,518 shares during the period. Dimensional Fund Advisors LP increased its holdings in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after purchasing an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer's stock valued at $276,772,000 after buying an additional 1,071,948 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on OXY. Susquehanna raised their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a "positive" rating in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Occidental Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Barclays lifted their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial raised their target price on Occidental Petroleum from $64.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average target price of $64.61.

Occidental Petroleum Stock Down 0.2%

OXY opened at $55.92 on Friday. The business's fifty day simple moving average is $54.21 and its 200 day simple moving average is $54.39. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The stock has a market cap of $55.62 billion, a PE ratio of 8.66, a P/E/G ratio of 0.82 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company earned $0.39 EPS. The company's revenue was up 53.4% on a year-over-year basis. As a group, research analysts expect that Occidental Petroleum Corporation will post 5.35 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio (DPR) is 16.10%.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Q2 earnings significantly exceeded expectations. Adjusted earnings were $2.40 per share versus consensus estimates of roughly $1.83–$1.92, while revenue reached $8.07 billion, well above forecasts. Revenue increased more than 50% year over year. Occidental Q2 Earnings Beat on Oil Prices and Midstream Strength
• Positive Sentiment: Cash flow and leverage improved. OXY generated its strongest quarterly free cash flow since 2022 and reduced principal debt by $1.9 billion to $11.8 billion, its lowest level in seven years. Management also outlined a plan to generate more than $4 billion in annual sustainable cash-flow gains by 2030 through lower costs, reduced capital needs and balance-sheet improvement. Occidental Petroleum Q2 2026 Earnings Call Highlights
• Positive Sentiment: Shareholder returns and analyst sentiment strengthened. Occidental raised its quarterly dividend 7.7% to $0.28 per share. Wells Fargo raised its price target to $79 from $72 and Barclays lifted its target to $75 from $72; both maintain overweight ratings. Analyst price-target updates
• Neutral Sentiment: Operating performance was strong but commodity-sensitive. Global production averaged 1.433 million barrels of oil equivalent per day, above the high end of guidance, while realized crude prices rose sharply. Midstream and marketing income also exceeded guidance, but future results remain exposed to oil-price movements.
• Negative Sentiment: Management expects limited near-term growth. Occidental projects production and capital spending will remain roughly flat in 2027 while it continues prioritizing debt reduction. That discipline supports deleveraging but may reduce expectations for production expansion. Occidental sees flat spending, output in 2027

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares of the company's stock, valued at $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

Occidental Petroleum 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.

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