Varma Mutual Pension Insurance Co Invests $11.71 Million in Occidental Petroleum Corporation $OXY

Key Points

• Varma Mutual Pension Insurance Co acquired a new position in Occidental Petroleum, buying 284,800 shares valued at approximately $11.71 million in the fourth quarter.
• Occidental posted a sizable Q1 EPS beat of $1.06 vs. $0.60—driven by asset sales and higher oil prices—but revenue missed estimates and the stock slipped about 1.5% on the news.
• Management declared a quarterly dividend of $0.26 (annualized $1.04, ~1.8% yield) and analysts maintain a consensus "Hold" rating with an average price target of $62.91, despite several recent target raises.

Varma Mutual Pension Insurance Co acquired a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 284,800 shares of the oil and gas producer's stock, valued at approximately $11,711,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Addison Capital Co raised its stake in shares of Occidental Petroleum by 31.3% in the 4th quarter. Addison Capital Co now owns 12,266 shares of the oil and gas producer's stock worth $504,000 after buying an additional 2,925 shares in the last quarter. Horizon Investments LLC raised its position in shares of Occidental Petroleum by 53.8% during the fourth quarter. Horizon Investments LLC now owns 27,909 shares of the oil and gas producer's stock worth $1,148,000 after purchasing an additional 9,767 shares during the period. Activest Wealth Management raised its position in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 305 shares during the period. Verity Asset Management Inc. raised its position in shares of Occidental Petroleum by 1.9% during the fourth quarter. Verity Asset Management Inc. now owns 43,193 shares of the oil and gas producer's stock worth $1,776,000 after purchasing an additional 822 shares during the period. Finally, Bell & Brown Wealth Advisors LLC raised its position in shares of Occidental Petroleum by 3.6% during the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 92,809 shares of the oil and gas producer's stock worth $3,816,000 after purchasing an additional 3,228 shares during the period. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OXY shares. UBS Group boosted their target price on Occidental Petroleum from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Stephens boosted their target price on Occidental Petroleum from $59.00 to $74.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Scotiabank boosted their target price 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. Mizuho boosted their target price on Occidental Petroleum from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Finally, Zacks Research raised Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $62.91.

Occidental Petroleum Stock Down 1.5%

NYSE:OXY opened at $59.37 on Wednesday. The firm has a market capitalization of $58.87 billion, a price-to-earnings ratio of 36.87 and a beta of 0.17. Occidental Petroleum Corporation has a 1-year low of $38.72 and a 1-year high of $67.45. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. The business's fifty day moving average price is $57.92 and its 200 day moving average price is $47.99.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.Occidental Petroleum's quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 4.55 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum's payout ratio is presently 64.60%.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: First-quarter EPS beat materially — OXY reported $1.06/share, well above consensus, driven in part by asset sales and margin gains that support near-term cash flow and buyback/debt flexibility. Shale producer Occidental Petroleum beats quarterly profit estimates
• Positive Sentiment: Company reported a profit surge tied to asset sales and higher realized oil prices, a one-time boost that improves free-cash-flow guidance near-term. Occidental Petroleum’s profit surges on asset sale, higher oil prices
• Positive Sentiment: Raymond James raised its price target to $75 and maintained an Outperform rating, signaling analyst conviction in OXY’s medium-term upside. Raymond James adjusts Occidental Petroleum PT to $75 from $64; maintains Outperform rating
• Positive Sentiment: Options flow showed bullish positioning into the earnings release, indicating some investor confidence in upside after the beat. Bulls are piling into this Warren Buffett favorite ahead of earnings
• Neutral Sentiment: Management change announced — a CEO transition creates execution and strategy uncertainty until new leadership's plan is detailed; this is watchlisted by investors but not yet a clear positive or negative. Occidental Petroleum Announces CEO Transition and Leadership Changes
• Negative Sentiment: Revenue missed expectations — Q1 sales came in below street estimates and were down year-over-year, a drag on growth narratives despite the EPS beat. Occidental Petroleum NYSE: OXY Misses Q1 CY2026 Revenue Estimates
• Negative Sentiment: Macro/sector pressure: reports that a U.S. diplomatic peace deal with Iran may be near pushed oil prices lower and caused broad selling in big oil names, weighing on OXY despite company-level positives. Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End

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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