Allstate Corp Takes $1.26 Million Position in Occidental Petroleum Corporation $OXY

Allstate Corp purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,638 shares of the oil and gas producer’s stock, valued at approximately $1,259,000.

A number of other hedge funds also recently bought and sold shares of OXY. Vanguard Group Inc. boosted its holdings in shares of Occidental Petroleum by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. Geode Capital Management LLC lifted its position in Occidental Petroleum by 22.0% during the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares in the last quarter. Swedbank AB acquired a new position in Occidental Petroleum during the third quarter worth $35,517,000. American Century Companies Inc. boosted its stake in Occidental Petroleum by 22.3% during the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock worth $149,247,000 after buying an additional 647,243 shares during the last quarter. Finally, State Street Corp grew its holdings in Occidental Petroleum by 1.6% in the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock valued at $1,649,147,000 after buying an additional 615,566 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: Market chatter expects a dividend increase tied to strong cash flow and the OxyChem sale — a move that could lift OXY shares if confirmed at the upcoming quarterly report. If Occidental Petroleum Hikes Its Dividend as Expected, OXY Stock Could Rally
• Positive Sentiment: Analysts and strategists outline a bullish case if proceeds from the OxyChem sale are returned to shareholders via dividend/buybacks; that narrative supports upside potential into the earnings print. The Bull Case For Occidental Petroleum (OXY) Could Change Following OxyChem Sale And Dividend Expectations
• Neutral Sentiment: Pre-earnings previews note Wall Street is conservative on Q4 estimates; results could move the stock either way depending on commodity prices, production and capital allocation commentary. Occidental Petroleum’s Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: Options-focused pieces highlight shorting near-term out-of-the-money OXY puts as an income strategy, implying some traders expect limited near-term downside or are monetizing elevated implied volatility. If Occidental Petroleum Hikes Its Dividend As Expected, OXY Stock Could Rally (Options)
• Negative Sentiment: Western Midstream said it renegotiated gathering/processing contracts with Occidental and will receive a $610M unit transfer — a deal that could trim Occidental’s midstream control or change cash/asset profiles, creating short-term uncertainty. Western Midstream renegotiates Occidental contracts, to get $610 million in unit transfer
• Negative Sentiment: Scotiabank trimmed its price target slightly after the OxyChem sale news and kept a neutral/sector-perform view — a modest analyst downgrade that can add selling pressure ahead of earnings. Occidental (OXY) Sells OxyChem, Scotiabank Lowers PT
• Neutral Sentiment: Headline roundups (MSN/Barchart) summarize the same themes — dividend expectations, upcoming earnings and analyst commentary — which keeps headlines active but doesn’t add a new catalyst. Occidental Petroleum (OXY) Stock Moves -1.08%: What You Should Know

Occidental Petroleum Price Performance

OXY stock opened at $42.22 on Wednesday. The business’s fifty day moving average price is $41.58 and its 200 day moving average price is $43.36. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $52.58. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $41.60 billion, a PE ratio of 31.05 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.Occidental Petroleum’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 70.59%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OXY has been the topic of several analyst reports. Morgan Stanley reduced their price target on Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating on the stock in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Roth Capital boosted their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Piper Sandler reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $49.43.

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.