Occidental Petroleum Corporation $OXY Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management increased its Occidental Petroleum stake by 47.5% in the second quarter, acquiring 229,782 additional shares for a total of 713,272 shares valued at approximately $34.6 million.
• Occidental reported strong quarterly results, with EPS of $2.40 versus the $1.83 consensus and revenue of $8.06 billion, up 53.4% year over year.
• The company raised its quarterly dividend to $0.28 per share, while analysts maintain a consensus “Hold” rating and an average price target of $65.

TD Asset Management Inc lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 47.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 713,272 shares of the oil and gas producer's stock after acquiring an additional 229,782 shares during the period. TD Asset Management Inc owned 0.07% of Occidental Petroleum worth $34,644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OXY. Axiom Investment Management LLC acquired a new position in Occidental Petroleum during the first quarter worth approximately $25,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at $26,000. Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth $29,000. Caitlin John LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth $29,000. Finally, Activest Wealth Management raised its position in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock worth $31,000 after buying an additional 305 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about 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 Stock Performance

Occidental Petroleum 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 0.78 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock's 50 day moving average price is $54.19 and its 200 day moving average price is $54.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion during 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%. Occidental Petroleum's revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 5.81 EPS 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 annualized dividend and a dividend yield of 1.9%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. Occidental Petroleum's payout ratio is currently 16.10%.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. Susquehanna boosted 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. Wall Street Zen raised Occidental Petroleum from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Raymond James Financial increased their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. UBS Group reduced their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating for the company in a research report on Friday, June 26th. Ten research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

Insiders Place Their Bets

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

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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