HighTower Advisors LLC Sells 34,826 Shares of Occidental Petroleum Corporation $OXY

Key Points

• HighTower Advisors reduced its Occidental Petroleum stake by 5.1%, selling 34,826 shares and retaining 643,975 shares worth approximately $31.3 million. Other institutional investors increased their positions, with institutions collectively owning 88.7% of OXY.
• Occidental reported a strong quarter, with EPS of $2.40 versus the $1.83 consensus and revenue of $8.06 billion, up 53.4% year over year. The company also raised its quarterly dividend to $0.28 per share, producing a 1.9% annualized yield.
• Analyst sentiment is mixed but includes several higher price targets: the average target is $65, while targets range as high as $79. CEO Richard A. Jackson also bought 4,770 shares, increasing his direct ownership by 1.09%.

HighTower Advisors LLC lowered its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 643,975 shares of the oil and gas producer's stock after selling 34,826 shares during the period. HighTower Advisors LLC owned approximately 0.06% of Occidental Petroleum worth $31,278,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Woodline Partners LP lifted its holdings in Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer's stock worth $2,817,000 after purchasing an additional 16,506 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Occidental Petroleum in the second quarter valued at approximately $4,584,000. Federated Hermes Inc. raised its position in shares of Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer's stock valued at $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer's stock worth $4,443,000 after buying an additional 7,285 shares during the last quarter. Finally, AXA S.A. lifted its stake in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer's stock worth $5,740,000 after buying an additional 26,741 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $58.37 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market cap 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 moving average price of $54.19 and a two-hundred day moving average price of $54.93. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

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

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's payout ratio is 16.10%.

Key Occidental Petroleum News

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

Insider Activity

In other news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Raymond James Financial raised their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Scotiabank upped their price target on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Susquehanna raised their price target on Occidental Petroleum from $67.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $72.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, UBS Group cut their price objective on Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $65.00.

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.

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