455,590 Occidental Petroleum Corporation $OXY Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lessened its stake in Occidental Petroleum Corporation (NYSE:OXY) by 20.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,764,179 shares of the oil and gas producer’s stock after selling 455,590 shares during the period. Occidental Petroleum accounts for about 1.5% of Cooke & Bieler LP’s portfolio, making the stock its 24th largest position. Cooke & Bieler LP owned 0.18% of Occidental Petroleum worth $97,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Berkshire Hathaway Inc purchased a new position in Occidental Petroleum during the 2nd quarter valued at about $12,868,205,000. State Street Corp raised its position in shares of Occidental Petroleum by 6.6% in the 2nd quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock valued at $2,252,271,000 after purchasing an additional 2,870,472 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Occidental Petroleum by 84.8% in the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock worth $516,975,000 after buying an additional 4,882,834 shares during the last quarter. Danske Bank A S acquired a new stake in Occidental Petroleum during the 2nd quarter worth about $172,413,000. Finally, Legal & General Group Plc acquired a new stake in shares of Occidental Petroleum during the second quarter worth about $168,860,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

More Occidental Petroleum News

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

• Positive Sentiment: Analyst upgrades and higher price targets support the stock. Roth Capital upgraded OXY to “Buy” with a $70 target, while Susquehanna raised its target from $70 to $77 and maintained a positive rating. Stephens also forecast strong potential appreciation. These actions signal improving Wall Street confidence in Occidental’s earnings and valuation. Roth Capital upgrades Occidental Petroleum stock Stephens forecasts strong price appreciation
• Positive Sentiment: Improving crude prices could lift cash flow. A climb in crude prices is helping stabilize the outlook for Occidental’s oil-and-gas operations as investors approach earnings. Higher realized prices generally support production revenue, margins and debt reduction. Climbing crude and Occidental earnings week
• Positive Sentiment: Estimate revisions and momentum screens are favorable. OXY was included among S&P 500 companies seeing notable earnings-estimate increases, while Zacks highlighted its momentum characteristics and growing investor interest. The company’s previous quarter also featured substantially higher revenue and an EPS beat, providing a favorable comparison heading into the next report.
• Neutral Sentiment: Earnings are the next major catalyst. Multiple reports emphasize that OXY is in earnings week. Investors will focus on production, realized oil prices, free cash flow, debt repayment and management’s outlook; strong results could validate the higher targets, while a cautious forecast could limit gains.
• Negative Sentiment: Commodity-price and execution risks remain. The bullish case depends heavily on sustained crude strength. Any reversal in oil prices, weaker production, or disappointing guidance could pressure earnings and offset the recent analyst optimism.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $62.71 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company’s 50 day simple moving average is $59.65 and its 200-day simple moving average is $57.21. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a market capitalization of $62.69 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.24.

Occidental Petroleum (NYSE:OXY) last released its quarterly 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 return on equity of 15.31% and a net margin of 28.36%. The business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 53.4% on a year-over-year basis. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 6.43 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 10th. Occidental Petroleum’s payout ratio is currently 17.34%.

Analysts Set New Price Targets

A number of research firms recently issued reports on OXY. Wall Street Zen upgraded shares of Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Weiss Ratings upgraded Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. Seaport Research Partners began coverage on Occidental Petroleum in a report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price objective on the stock. Truist Financial upped their target price on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Thursday, October 15th. Finally, UBS Group increased their price target on Occidental Petroleum from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Thirteen research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.46.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.