Cheviot Value Management LLC Cuts Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• Cheviot Value Management cut its Occidental Petroleum stake by 15.8% in the fourth quarter, selling 19,315 shares and leaving it with 102,956 shares valued at about $4.6 million.
• Wall Street sentiment is mixed: several analysts recently raised price targets on OXY, but the broader consensus remains “Hold” with an average target of $62.43.
• Occidental beat earnings expectations in its latest quarter, reporting $1.06 EPS versus $0.60 expected, and the company also announced a quarterly dividend of $0.26 per share.

Cheviot Value Management LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,956 shares of the oil and gas producer's stock after selling 19,315 shares during the quarter. Cheviot Value Management LLC's holdings in Occidental Petroleum were worth $4,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in OXY. Carrera Capital Advisors grew its position in Occidental Petroleum by 0.5% during the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer's stock valued at $1,831,000 after buying an additional 227 shares during the period. Apella Capital LLC raised its position in Occidental Petroleum by 3.4% in the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer's stock worth $289,000 after acquiring an additional 233 shares during the period. Jamison Private Wealth Management Inc. raised its position in Occidental Petroleum by 1.8% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer's stock worth $573,000 after acquiring an additional 249 shares during the period. Woodward Diversified Capital LLC boosted its stake in Occidental Petroleum by 4.2% in the fourth quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer's stock valued at $274,000 after acquiring an additional 270 shares during the last quarter. Finally, Inscription Capital LLC grew its position in shares of Occidental Petroleum by 0.8% during the 3rd quarter. Inscription Capital LLC now owns 32,734 shares of the oil and gas producer's stock valued at $1,547,000 after acquiring an additional 271 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on OXY. HSBC lifted their price target on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Mizuho raised their target price on Occidental Petroleum from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. BMO Capital Markets boosted their target price on Occidental Petroleum from $60.00 to $65.00 and gave the company a "market perform" rating in a research note on Tuesday, April 7th. Susquehanna increased their price target on Occidental Petroleum from $60.00 to $67.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. Finally, Wolfe Research lifted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.43.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Occidental’s Q1 2026 update was described as beating guidance in key segments, suggesting underlying operating strength despite broader market caution. Occidental Petroleum (OXY) Beats Guidance in Key Segments during Q1 2026
• Positive Sentiment: Some commentary continues to view Occidental as a value name, with coverage noting it among Buffett-linked stock ideas and highlighting a longer-term deleveraging story. Occidental Earnings: Guidance Revisions Won't Stop Deleveraging
• Neutral Sentiment: JPMorgan, UBS, and Truist all trimmed price targets on OXY, but kept neutral-to-hold style ratings, which signals reduced enthusiasm rather than a bearish downgrade. JPMorgan cut its target to $63 from $64, UBS to $65 from $67, and Truist to $57 from $65. Truist Financial Corporation price target update
• Neutral Sentiment: Investors are also weighing a leadership transition after CEO Vicki Hollub said she plans to retire, which could mark the start of a new strategic phase for the company. Occidental Petroleum: CEO Change Could Mark The Company's Next Era
• Negative Sentiment: The lower analyst price targets suggest Wall Street sees less upside near term, reinforcing pressure on the stock even after a solid earnings report. UBS adjusts price target on Occidental Petroleum
• Negative Sentiment: Commentary also pointed to temporary oil tailwinds already being priced in, implying limited near-term re-rating potential for OXY shares. Occidental Petroleum: Temporary Oil Tailwinds Already Baked In, Not A Buy Here

Occidental Petroleum Stock Down 1.7%

Shares of OXY opened at $53.03 on Friday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $58.02 and a two-hundred day simple moving average of $48.18. The firm has a market cap of $52.74 billion, a P/E ratio of 13.36 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business's revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post 4.77 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum's payout ratio is currently 26.20%.

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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