Oppenheimer & Co. Inc. Sells 29,758 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Oppenheimer & Co. Inc. reduced its stake in Occidental by 11.8%, selling 29,758 shares in Q4 and now owning 221,815 shares valued at about $9.12 million.
• Occidental named COO Richard Jackson as CEO effective June 1 and the board declared a quarterly dividend of $0.26 per share (ex-dividend June 10, payable July 15), equal to a $1.04 annualized payout (~1.8% yield).
• Several brokerages have raised price targets and issued upgrades (e.g., Wells Fargo to $72/overweight, Morgan Stanley to $73), but the consensus remains an average "Hold" rating with a target price of $61.83.

Oppenheimer & Co. Inc. decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,815 shares of the oil and gas producer's stock after selling 29,758 shares during the period. Oppenheimer & Co. Inc.'s holdings in Occidental Petroleum were worth $9,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Lighthouse Investment Partners LLC acquired a new stake in Occidental Petroleum during the 3rd quarter worth about $22,345,000. DNB Asset Management AS grew its position in Occidental Petroleum by 100.3% during the 3rd quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer's stock worth $12,654,000 after purchasing an additional 134,128 shares during the period. Mirabella Financial Services LLP grew its position in Occidental Petroleum by 154.7% during the 3rd quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer's stock worth $1,394,000 after purchasing an additional 17,958 shares during the period. Gifford Fong Associates grew its position in Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer's stock worth $8,100,000 after purchasing an additional 50,000 shares during the period. Finally, Cooperman Leon G acquired a new stake in Occidental Petroleum during the 3rd quarter worth about $15,947,000. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OXY. Argus raised Occidental Petroleum to a "hold" rating in a research report on Friday, February 27th. Wells Fargo & Company increased their price target on Occidental Petroleum from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Scotiabank increased their price target on Occidental Petroleum from $46.00 to $57.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Piper Sandler upgraded Occidental Petroleum from a "neutral" rating to an "overweight" rating and raised their target price for the company from $54.00 to $66.00 in a research report on Thursday, March 12th. Finally, Morgan Stanley raised their target price on Occidental Petroleum from $53.00 to $73.00 and gave the company an "equal weight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.83.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Board names COO Richard Jackson as CEO effective June 1 — a planned, internal succession that reduces execution risk versus an external hire and could be viewed as continuity-focused by investors. Occidental names veteran Richard Jackson as CEO
• Positive Sentiment: Board declared a regular quarterly dividend of $0.26 per share (record June 10, payable July 15), which supports income-focused holders and slightly bolsters yield at current prices. Occidental Announces Dividend
• Neutral Sentiment: Analysts/brokers show mixed framing — a published price target around $61.83 sits above the current market price but isn’t a clear catalyst by itself. Brokerages Set Occidental Petroleum Corporation NYSE: OXY PT at $61.83
• Neutral Sentiment: Company releases and some press note additional operational items (Blockonomi mentions a Gulf discovery) that could be positive longer-term but lack immediate detail to move the stock materially today. Occidental Petroleum (OXY) Leadership Transition
• Negative Sentiment: Coverage highlights that OXY under Hollub underperformed peers historically, raising investor scrutiny about governance and past capital allocation; some commentators frame the change as overdue rather than a fresh start. Occidental Petroleum Names a New CEO. How the Stock Has Fared Under Vicki Hollub.
• Negative Sentiment: Sector-wide weakness pressured energy names today (NYSE Energy index lower), adding downward momentum to OXY even as company-specific news landed; macro supply moves (e.g., UAE/OPEC developments) remain an overhang for oil prices. Sector Update: Energy Stocks Fall Friday Afternoon

Occidental Petroleum Price Performance

NYSE:OXY opened at $58.62 on Friday. Occidental Petroleum Corporation has a 52 week low of $38.72 and a 52 week high of $67.45. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $58.14 billion, a PE ratio of 36.41 and a beta of 0.17. The stock's 50-day moving average price is $57.77 and its 200-day moving average price is $47.79.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $6.02 billion. During the same period last year, the firm earned $0.80 EPS. The company's quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Corporation will post 4.54 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum's dividend payout ratio (DPR) is currently 64.60%.

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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