Caitong International Asset Management Co. Ltd Sells 17,826 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Caitong International Asset Management cut its Occidental Petroleum position by 38.8%, selling 17,826 shares and retaining 28,073 shares worth approximately $1.36 million. Institutional investors collectively own 88.7% of OXY.
• Occidental reported a strong quarter, with earnings of $2.40 per share versus the $1.83 consensus estimate and revenue of $8.06 billion, up 53.4% year over year.
• Analyst sentiment remains mixed but leans positive: OXY has a consensus “Hold” rating and a $65 target price, while the company raised its quarterly dividend to $0.28 per share.

Caitong International Asset Management Co. Ltd trimmed its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 38.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 28,073 shares of the oil and gas producer's stock after selling 17,826 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Occidental Petroleum were worth $1,364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Axiom Investment Management LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth about $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum in the 1st quarter valued at approximately $26,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $29,000. Ballast Advisors LLC bought a new stake in Occidental Petroleum during the 1st quarter worth approximately $39,000. Finally, Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $42,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OXY shares. Mizuho raised their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Morgan Stanley decreased their price objective on Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating for the company in a report on Friday, June 26th. Capital One Financial raised their target price on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Finally, Evercore raised Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 target price on the stock in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $65.00.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $58.37 on Friday. The firm has a market capitalization of $58.35 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 0.79 and a beta of 0.15. The firm has a fifty day simple moving average of $54.19 and a two-hundred day simple moving average of $54.93. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business's quarterly revenue was up 53.4% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Analysts forecast that Occidental Petroleum Corporation will post 5.81 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio (DPR) is currently 16.10%.

Insiders Place Their Bets

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

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Analysts remain bullish: Recent commentary highlights Occidental’s operational improvements, valuation and potential for long-term momentum. One analyst framework identifies OXY as an attractive stock for investors seeking a combination of value, growth and momentum. Why Analysts are Bullish on Occidental Petroleum Why Occidental Petroleum Is a Top Momentum Stock for the Long Term
• Positive Sentiment: Strong Q2 execution supports the shares: Management attributed the earnings beat to efficiency gains, disciplined cost control and improved production, particularly in the Permian Basin. Gas-marketing optimization also benefited the midstream and marketing segment, while lower principal debt strengthens the balance sheet. 5 Insightful Analyst Questions From Occidental Petroleum’s Q2 Earnings Call
• Positive Sentiment: Higher price target signals upside: Susquehanna raised its target for Occidental to $70, implying analysts see additional appreciation potential from current trading levels. Susquehanna Raises Occidental Petroleum Price Target to $70
• Positive Sentiment: Energy-market backdrop is supportive: Rising crude prices and concerns over Middle East tensions, including potential disruption around the Strait of Hormuz, are drawing attention to oil producers such as OXY because higher oil prices can improve upstream revenue and cash flow. Occidental Draws Attention as Crude Rises
• Neutral Sentiment: Management has outlined a goal of generating $4 billion in sustainable annual cash flow by 2030. Achieving that objective will depend on commodity prices, continued production efficiency and further debt reduction. Occidental Q2 2026 Earnings Call Transcript

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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