Occidental Petroleum Corporation $OXY Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 45.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,472 shares of the oil and gas producer's stock after selling 62,135 shares during the period. Janney Montgomery Scott LLC's holdings in Occidental Petroleum were worth $3,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Axiom Investment Management LLC acquired a new position in Occidental Petroleum in the 1st quarter worth about $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $26,000. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $29,000. Ballast Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 1.2%

Shares of OXY opened at $58.37 on Friday. The stock has a 50 day moving average price of $54.19 and a 200 day moving average price of $54.93. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.79 and a beta of 0.15.

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

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 17.34%.

Occidental Petroleum News Summary

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 Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Scotiabank lifted their price target on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Wall Street Zen raised shares of Occidental Petroleum from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Occidental Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, Evercore raised shares of Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 target price for the company in a research note on Wednesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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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