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

Posted by Don Miller on Mar 6th, 2026

Occidental Petroleum Corporation (NYSE:OXY – Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors acquired 120,397 call options on the company. This represents an increase of 96% compared to the typical daily volume of 61,466 call options.

Analyst Ratings Changes

A number of brokerages have weighed in on OXY. Bank of America boosted their target price on Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th. Scotiabank cut their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Zacks Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday. Argus upgraded Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Finally, Wolfe Research lowered their price target on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.24.

Check Out Our Latest Report on Occidental Petroleum

Occidental Petroleum Stock Performance

NYSE OXY traded up $0.74 on Friday, hitting $53.98. 27,630,305 shares of the company traded hands, compared to its average volume of 13,588,402. The business’s 50 day moving average price is $45.77 and its 200-day moving average price is $44.18. Occidental Petroleum has a 52-week low of $34.78 and a 52-week 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 company has a market capitalization of $53.24 billion, a price-to-earnings ratio of 33.53 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly 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. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Equities analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 annualized dividend and a yield of 1.9%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio (DPR) is 59.63%.

Trending Headlines about Occidental Petroleum

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

Positive Sentiment: Geopolitical supply risk: Shares are getting a boost from Middle East conflict concerns and reports of an Iranian tanker strike near Kuwait, which is lifting oil prices and benefiting producers like Occidental. Occidental Petroleum Stock Rises Amid Middle East Conflict Concerns
Positive Sentiment: Commodity-driven rally: Rising oil prices were the primary driver of a big February gain for OXY, amplifying earnings and cash-flow expectations for this upstream-focused producer. Why Occidental Petroleum Stock Rocketed Nearly 17% in February
Positive Sentiment: Debt reduction moves: Occidental announced early tender results and increased the cap on several cash tender offers for senior notes (upsized aggregate cap to $1.2B), a move that can shorten maturities and improve leverage metrics if accepted. That supports the stock by signaling active balance‑sheet management. Occidental Announces Early Tender Results and Upsize in Cash Tender Offers and Consent Solicitations
Positive Sentiment: Deal terms disclosed: Occidental also disclosed the total consideration for its related cash tender offers and consent solicitations — important detail for creditors and investors assessing the cost and impact of the recapitalization. Occidental Announces Total Consideration for its Cash Tender Offers and Consent Solicitations
Positive Sentiment: Analyst updates: UBS and Piper Sandler recently raised price targets (UBS to $55, Piper Sandler to $54) — these lifts provide short-term technical support and validate improved outlooks tied to higher oil and company actions. Analyst Price Target Raises
Positive Sentiment: Strategic tailwinds and investor backing: Coverage highlights (MarketBeat / 247WallSt) note Oxy’s refocus on upstream after the OxyChem sale and the confidence implied by Warren Buffett’s large stake — factors that reduce perceived structural risk and magnify upside on higher oil. Warren Buffett’s Oil Bet Looks Genius, Here Is What to Buy Next
Neutral Sentiment: Market attention: Zacks flags increased investor attention to OXY — higher search/interest can amplify volatility but doesn’t on its own change fundamentals. Occidental Petroleum Corporation (OXY) is Attracting Investor Attention
Neutral Sentiment: Macro scenario piece: Coverage on which energy dividends to own if oil hits $100 is background context — useful for long-term positioning but not an immediate catalyst. If Oil Hits $100 These Are the Energy Dividends You Want to Own

Insiders Place Their Bets

In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the business. Caitlin John LLC purchased a new position in Occidental Petroleum in the fourth quarter worth about $29,000. Activest Wealth Management lifted its position in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares during the last quarter. Rossby Financial LCC boosted its stake in Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the period. City Holding Co. increased its position in Occidental Petroleum by 250.0% during the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the third quarter valued at $35,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

(Get Free Report)

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.