Occidental Petroleum Corporation $OXY Shares Sold by Dodge & Cox

Key Points

• Dodge & Cox trimmed its Occidental Petroleum stake by 0.5%, selling 371,001 shares and leaving it with 79,883,371 shares (about 8.11% of OXY, valued at roughly $3.77 billion), making OXY its 10th-largest holding.
• Occidental beat EPS estimates ($0.31 vs. $0.18) but missed revenue, raised its quarterly dividend to $0.26, and has rallied ~40% YTD on oil strength, Permian outperformance and debt reduction, earning upgrades such as Piper Sandler's move to Overweight with a $66 target.
• Director William R. Klesse purchased 5,000 shares at $38.98, lifting insider ownership to 218,913 shares, while institutional investors still own about 88.7% of the company.

Dodge & Cox reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,883,371 shares of the oil and gas producer's stock after selling 371,001 shares during the quarter. Occidental Petroleum comprises 2.0% of Dodge & Cox's holdings, making the stock its 10th biggest position. Dodge & Cox owned 8.11% of Occidental Petroleum worth $3,774,489,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. City Holding Co. grew its position in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer's stock worth $33,000 after buying an additional 500 shares during the period. GoalVest Advisory LLC bought a new stake in shares of Occidental Petroleum during the third quarter worth approximately $38,000. Tripletail Wealth Management LLC acquired a new position in Occidental Petroleum in the third quarter valued at approximately $49,000. Sumitomo Mitsui Financial Group Inc. bought a new position in Occidental Petroleum in the second quarter valued at approximately $51,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Occidental Petroleum by 47.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the oil and gas producer's stock worth $57,000 after acquiring an additional 389 shares during the period. Institutional investors own 88.70% of the company's stock.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Piper Sandler upgraded OXY to Overweight and raised its price target to $66, signaling stronger analyst conviction and providing tangible upside from current levels. Positive Report for Occidental Petroleum (OXY) from Piper Sandler
• Positive Sentiment: Coverage and headlines explain a roughly 40% move in OXY YTD — driven by oil‑price strength, Permian operational outperformance and visible debt reduction — reinforcing the narrative that fundamentals, not just momentum, are supporting the rally. What's Behind The 40% Rise In OXY Stock?
• Positive Sentiment: Zacks notes OXY outperformed the energy group (≈+27% in a month) and cites rising oil, Permian strength and debt paydown as drivers — a bullish confirmation for investors focused on fundamentals and cash‑flow improvement. OXY Outperforms Industry in Past Month: Buy, Hold or Sell the Stock?
• Positive Sentiment: Intraday price jumps and above‑average volume coincided with upward earnings‑estimate revisions, suggesting analysts are beginning to bake in more upside for OXY. Occidental (OXY) Soars 5.1%: Is Further Upside Left in the Stock?
• Positive Sentiment: Broker activity also includes a Wells Fargo upgrade on the company’s equity warrant vehicle (OXY.WS), a signal that some desks see additional value in Occidental‑linked securities. Wells Fargo upgrades Occidental Petroleum Corporation - Equity Warrant (OXY.WS)
• Neutral Sentiment: Sector momentum from rising oil and Middle East supply‑concern headlines (tanker attacks, Strait of Hormuz rhetoric) is lifting energy peers broadly, which benefits OXY but also adds geopolitical volatility risk. Occidental Petroleum Stock Surges Thursday: What's Driving The Action?
• Neutral Sentiment: Goldman assigned a $54 price target (and other outlets list varying targets), showing analyst views still diverge on fair value — useful context for investors deciding entry points or profit‑taking. Occidental Petroleum NYSE: OXY Given New $54.00 Price Target at The Goldman Sachs Group
• Neutral Sentiment: Occidental disclosed a $1.20B debt tender and covenant changes; this touches capital structure and may reduce near‑term leverage risks but invites scrutiny over terms and longer‑run funding flexibility. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Some analysts and commentaries warn the oil‑led rally may be overextended and that easy gains could be behind the stock, implying higher near‑term downside risk if oil or macro sentiment reverses. Occidental Petroleum: Oil Rally Overly Done - Easy Gains Behind Us

Insider Buying and Selling

In related news, Director William R. Klesse acquired 5,000 shares of the firm's stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director directly owned 218,913 shares of the company's stock, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Trading Down 0.9%

NYSE OXY opened at $57.91 on Friday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $59.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The stock's 50 day moving average price is $47.53 and its two-hundred day moving average price is $44.63. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of 35.97 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.13. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm's revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.24. Occidental Petroleum's dividend payout ratio (DPR) is presently 64.60%.

Analyst Ratings Changes

OXY has been the topic of a number of analyst reports. HSBC increased their price target on Occidental Petroleum from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Wolfe Research decreased their price objective on Occidental Petroleum from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Wednesday, January 21st. Barclays increased their target price on Occidental Petroleum from $50.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Piper Sandler upgraded Occidental Petroleum from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $54.00 to $66.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Occidental Petroleum from $42.00 to $49.00 and gave the company an "underweight" rating in a research note on Friday, February 20th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $53.48.

About Occidental Petroleum

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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