Investors Purchase Large Volume of Occidental Petroleum Call Options (NYSE:OXY)

Key Points

• Occidental Petroleum saw unusually heavy bullish options activity on Friday, with investors purchasing 84,925 call options—about 88% above its typical daily volume.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $65.54, although Goldman Sachs upgraded the stock to Buy and raised its target to $69.
• OXY reported stronger-than-expected quarterly earnings and revenue, while increasing its quarterly dividend to $0.28, or $1.12 annually, for a 1.9% yield.

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors acquired 84,925 call options on the stock. This represents an increase of approximately 88% compared to the typical daily volume of 45,150 call options.

Wall Street Analyst Weigh In

Several research firms have issued reports on OXY. Stifel Nicolaus initiated coverage on Occidental Petroleum in a report on Thursday, September 10th. They set a "hold" rating and a $68.00 price target for the company. Weiss Ratings upgraded Occidental Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. UBS Group raised their target price on shares of Occidental Petroleum from $59.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Susquehanna upped their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley decreased their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Friday, June 26th. Eleven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.54.

Occidental Petroleum Price Performance

OXY stock traded up $0.26 during midday trading on Friday, hitting $58.10. The company's stock had a trading volume of 6,742,181 shares, compared to its average volume of 12,256,094. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a 50 day moving average of $58.43 and a two-hundred day moving average of $57.31. The firm has a market capitalization of $58.08 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.86 and a beta of 0.24.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company's quarterly revenue was up 53.4% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum will post 6.2 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio is presently 17.34%.

Occidental Petroleum News Summary

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

• Positive Sentiment: Goldman Sachs upgraded OXY to Buy from Neutral and raised its price target to $69 from $63. The firm reportedly cited Occidental’s debt-reduction plan, potential for dividend growth, and oil-recovery capabilities, prompting investors to reassess the stock’s upside potential. Occidental Petroleum Gets a Buy from Goldman Sachs
• Positive Sentiment: The upgrade follows Occidental’s strong second-quarter operating performance, including production above the high end of guidance and earnings that exceeded analyst expectations. Management’s focus on advanced recovery and efficiency projects could support improved future cash flow. Occidental Stock Gets an Upgrade
• Neutral Sentiment: Occidental will release third-quarter 2026 results after the market closes on November 9 and hold its earnings conference call on November 10. The announcement provides a near-term event for investors but does not include new operating or financial results. Occidental to Announce Third Quarter Results
• Negative Sentiment: Some portfolio analysis favors Suncor Energy over OXY because of Suncor’s greater geographic diversification and different commodity exposure. Separately, comparisons of major oil dividends emphasize that payout durability can vary significantly when crude prices fall, keeping commodity prices, leverage, and dividend sustainability as risks for Occidental investors. All-Weather Portfolio: I Like Suncor Energy Better Than Occidental Petroleum

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently made changes to their positions in the company. Axiom Investment Management LLC purchased a new position in Occidental Petroleum during the 1st quarter valued at approximately $25,000. Hara Capital LLC purchased a new position in shares of Occidental Petroleum in the second quarter valued at $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum in the first quarter valued at $26,000. Portus Wealth Advisors LLC bought a new stake in Occidental Petroleum in the first quarter worth $29,000. Finally, Fiduciary Financial Advisors purchased a new stake in Occidental Petroleum during the second quarter valued at $31,000. 88.70% of the stock is owned by institutional investors.

About Occidental Petroleum

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.

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