Occidental Petroleum Corporation $OXY Stock: Perpetual Ltd Grows Position

Key Points

• Perpetual Ltd more than doubled its Occidental Petroleum position in the third quarter, increasing holdings by 114% to 31,015 shares valued at approximately $1.716 million. Institutional investors collectively own 88.7% of OXY.
• Occidental reported quarterly EPS of $2.40, exceeding the $1.83 analyst estimate, while revenue rose 53.4% year over year to $8.06 billion. The company also raised its quarterly dividend from $0.26 to $0.28 per share, implying a 1.8% annual yield.
• Analyst sentiment remains mixed: upgrades from Goldman Sachs and Evercore were offset by several “Hold” ratings, leaving OXY with a consensus rating of Hold and an average price target of $65.54.

Perpetual Ltd lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 114.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,015 shares of the oil and gas producer's stock after acquiring an additional 16,523 shares during the period. Perpetual Ltd's holdings in Occidental Petroleum were worth $1,716,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Axiom Investment Management LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum in the 1st quarter valued at $26,000. Portus Wealth Advisors LLC purchased a new position in Occidental Petroleum in the first quarter valued at about $29,000. Hara Capital LLC purchased a new position in Occidental Petroleum in the second quarter valued at about $25,000. Finally, Ballast Advisors LLC purchased a new position in Occidental Petroleum in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.8%

Shares of Occidental Petroleum stock opened at $61.62 on Wednesday. The business has a 50-day moving average of $59.03 and a 200-day moving average of $57.30. 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 capitalization of $61.60 billion, a PE ratio of 13.86, a P/E/G ratio of 0.95 and a beta of 0.24. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The company's revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 6.20 EPS 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. Shareholders 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 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OXY shares. Evercore raised Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 target price for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group upgraded Occidental Petroleum from a "neutral" rating to a "buy" rating and raised their target price for the company from $63.00 to $69.00 in a report on Thursday, October 1st. Wall Street Zen upgraded Occidental Petroleum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Stephens reduced their price target on Occidental Petroleum from $73.00 to $69.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Finally, Truist Financial upped their price target on Occidental Petroleum from $57.00 to $63.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $65.54.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Higher oil prices are supporting the outlook. Occidental pointed to elevated energy prices as an important factor affecting third-quarter results, while supply concerns helped lift crude prices. Higher realized oil prices generally benefit Occidental’s upstream revenue and profitability. Occidental Petroleum points to higher energy prices impacting Q3 results Occidental oil prices jump as supply concerns lift crude
• Positive Sentiment: Preliminary third-quarter pricing was strong. Occidental reported estimated worldwide realized oil prices of $85.91 per barrel, with oil accounting for 48.8% of total production. Total production remained within company guidance, and estimated Gulf of America sales volumes were 110,000 barrels of oil equivalent per day. Occidental Previews Third Quarter 2026 Production and Pricing
• Positive Sentiment: Valuation and operating margins are attracting investor attention. A comparison with Chevron highlighted Occidental’s cheaper valuation and higher margins, which may appeal to investors seeking greater energy-sector upside despite the company’s additional balance-sheet risk. Chevron vs. Occidental Petroleum
• Neutral Sentiment: Recent coverage says OXY is benefiting from broader momentum in oil and gas shares, but questions remain about whether the rally can continue. Investors are also looking ahead to the company’s November results. Can Occidental Petroleum Keep Surging?
• Negative Sentiment: Temporary Gulf of America curtailments caused by a third-party gas-pipeline constraint and maintenance reduced production efficiency. Crude-oil collar settlements also reduced operating cash flow before working capital by approximately $94 million, while U.S. realized natural-gas prices were only $1.61 per Mcf. Occidental Previews Third Quarter 2026 Production and Pricing

Occidental Petroleum Profile

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.