Modern Wealth Management LLC Raises Stock Holdings in Occidental Petroleum Corporation $OXY

Modern Wealth Management LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 216.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,278 shares of the oil and gas producer’s stock after purchasing an additional 15,922 shares during the period. Modern Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Moody National Bank Trust Division grew its stake in Occidental Petroleum by 1.5% in the 3rd quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after buying an additional 229 shares in the last quarter. Inscription Capital LLC raised its position in shares of Occidental Petroleum by 0.8% during the 3rd quarter. Inscription Capital LLC now owns 32,734 shares of the oil and gas producer’s stock valued at $1,547,000 after buying an additional 271 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Occidental Petroleum by 4.3% during the 3rd quarter. Cigna Investments Inc. New now owns 6,809 shares of the oil and gas producer’s stock worth $321,000 after acquiring an additional 280 shares during the last quarter. Greenleaf Trust grew its position in Occidental Petroleum by 2.7% in the third quarter. Greenleaf Trust now owns 11,330 shares of the oil and gas producer’s stock worth $535,000 after acquiring an additional 296 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its position in Occidental Petroleum by 1.3% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 22,904 shares of the oil and gas producer’s stock worth $1,082,000 after acquiring an additional 299 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OXY. BMO Capital Markets raised their price target on Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. UBS Group upped their price objective on Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays increased their price objective on Occidental Petroleum from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. HSBC boosted their target price on Occidental Petroleum from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Wolfe Research cut their target price on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $51.24.

Occidental Petroleum Stock Up 2.0%

Shares of NYSE:OXY opened at $54.28 on Monday. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.34. 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 stock’s 50-day moving average price is $46.06 and its 200-day moving average price is $44.25. The stock has a market capitalization of $53.53 billion, a P/E ratio of 33.71 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the business posted $0.80 EPS. Occidental Petroleum’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 10th. Occidental Petroleum’s payout ratio is currently 59.63%.

More Occidental Petroleum News

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

• Positive Sentiment: Geopolitical risk: Reports of an Iranian tanker strike near Kuwait and broader Middle East conflict concerns are pushing oil prices and lifting shares of oil producers, benefiting OXY. Occidental Petroleum Stock Rises Amid Middle East Conflict Concerns
• Positive Sentiment: Rising oil prices: Recent rallies in crude have been a primary catalyst for OXY’s move higher — energy leverage means rising WTI boosts Occidental’s revenues and margins. Why Occidental Petroleum Stock Rocketed Nearly 17% in February
• Positive Sentiment: Unusual bullish options flow: Traders bought ~120,397 OXY calls (up ~96% vs. average), signaling strong speculative bullish interest and potential further upside pressure on the stock as market participants position for higher oil/stock levels.
• Positive Sentiment: Investor confidence / narrative tailwinds: Coverage highlighting Warren Buffett’s stake and bullish thesis (Occidental’s strategic reset, divestitures, and Berkshire backing) is reinforcing investor demand for OXY as an oil-exposure play. Warren Buffett’s Oil Bet Looks Genius, Here Is What to Buy Next
• Positive Sentiment: Debt management: Occidental announced and updated cash tender offers and consent solicitations for several senior notes and increased the aggregate cap on purchases — moves that reduce outstanding debt and are generally viewed positively by bond and equity investors. Occidental Announces Total Consideration for its Cash Tender Offers…
• Neutral Sentiment: Early tender results / upsized offer: Occidental reported early tender results and increased the maximum aggregate principal amount it will accept — this signals active liability management but uses cash, so the net impact depends on financing and future cash flow. Occidental Announces Early Tender Results and Upsize…
• Neutral Sentiment: Analyst target moves: UBS and Piper Sandler each raised OXY price targets (UBS to $55, Piper Sandler to $54) but maintained neutral ratings — modestly supportive for the stock, though not a full upgrade. Benzinga
• Neutral Sentiment: Sector commentary and attention: MarketBeat, Zacks, and other outlets are spotlighting OXY as a high-conviction energy play amid supply concerns; useful for retail/institutional interest but not an immediate earnings driver. Chaos & Crude: 3 Energy Stocks Built to Thrive…

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the acquisition, the director owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

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.