Occidental Petroleum Corporation $OXY Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Occidental Petroleum during the fourth quarter, increasing holdings by 111.8% to 56,430 shares valued at about $2.32 million.
• Recent analyst action has been largely bullish, with Barclays upgrading OXY and multiple firms raising price targets, including Capital One to $70 and Mizuho to $75.
• Occidental reported strong quarterly earnings of $1.06 per share, beating estimates, and also announced a quarterly dividend of $0.26 per share, implying a 1.8% yield.

Allstate Corp raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 111.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,430 shares of the oil and gas producer's stock after buying an additional 29,792 shares during the period. Allstate Corp's holdings in Occidental Petroleum were worth $2,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Carrera Capital Advisors lifted its position in shares of 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 worth $1,831,000 after purchasing an additional 227 shares in the last quarter. Apella Capital LLC raised its stake in Occidental Petroleum by 3.4% during the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer's stock valued at $289,000 after buying an additional 233 shares in the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of Occidental Petroleum by 1.8% during 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 purchasing an additional 249 shares during the period. Woodward Diversified Capital LLC raised its holdings in shares of Occidental Petroleum by 4.2% during the fourth quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer's stock worth $274,000 after purchasing an additional 270 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Occidental Petroleum by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 26,092 shares of the oil and gas producer's stock worth $1,073,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Barclays upgraded Occidental Petroleum (OXY), adding to a growing list of favorable analyst calls that can lift investor confidence in the stock. Barclays upgrades Occidental Petroleum (OXY)
• Positive Sentiment: Capital One Financial raised its price target on Occidental Petroleum (OXY) from $67 to $70, implying meaningful upside from recent trading levels and signaling stronger analyst expectations. Capital One Securities lifts Occidental Petroleum price target to 70 from 67
• Positive Sentiment: Mizuho also boosted its price target on Occidental Petroleum (OXY) from $72 to $75 and reiterated an outperform view, reinforcing the bullish analyst backdrop. Occidental Petroleum price target raised by Mizuho
• Neutral Sentiment: Several recent articles compare Occidental Petroleum (OXY) with Exxon Mobil and discuss valuation, strategy, and Buffett-related ownership themes, but these are more informational than immediate stock-moving catalysts. Occidental Petroleum vs Exxon Mobil: The Better Oil Titan For 2026
• Neutral Sentiment: Broader coverage notes Berkshire Hathaway’s stake and Occidental’s long-term investment story, but this appears to be background rather than a fresh catalyst for the shares. From $90K Bet to $800K Windfall
• Negative Sentiment: One market recap flagged weakness in energy producers, which can pressure oil stocks like Occidental Petroleum (OXY) when sector sentiment turns soft. Stocks Pressured by Weakness in Energy Producers and Cybersecurity Stocks

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OXY. Weiss Ratings upgraded Occidental Petroleum from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Raymond James Financial increased their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Susquehanna raised their target price on Occidental Petroleum from $60.00 to $67.00 and gave the company a "positive" rating in a research report on Tuesday, April 21st. Wolfe Research raised their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, Roth Mkm raised their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus price target of $63.74.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $57.34 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 14.44 and a beta of 0.17. The stock's fifty day simple moving average is $58.92 and its 200 day simple moving average is $49.92. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The business 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 firm's quarterly 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. As a group, sell-side analysts forecast that Occidental Petroleum Corporation will post 5.33 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. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. 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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