CI Investments Inc. Sells 29,665 Shares of Occidental Petroleum Corporation $OXY

CI Investments Inc. lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,356 shares of the oil and gas producer’s stock after selling 29,665 shares during the period. CI Investments Inc.’s holdings in Occidental Petroleum were worth $7,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 valued at $3,718,054,000 after acquiring an additional 8,273,030 shares during the period. Geode Capital Management LLC increased its stake in Occidental Petroleum by 22.0% in 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 purchasing an additional 3,267,269 shares during the period. Swedbank AB bought a new stake in shares of Occidental Petroleum during the third quarter worth $35,517,000. American Century Companies Inc. boosted its stake in shares of 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 valued at $149,247,000 after purchasing an additional 647,243 shares during the period. Finally, State Street Corp grew its holdings in shares of Occidental Petroleum by 1.6% in the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after purchasing an additional 615,566 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other news, Director William R. Klesse acquired 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, with a total value of $194,900.00. Following the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Berkshire Hathaway’s ~29% stake continues to act as a confidence backstop for OXY, drawing retail and institutional attention and supporting the stock’s strong year‑to‑date performance. Buffett’s 29% Stake Is Giving OXY Investors Unusual Confidence Right Now
• Positive Sentiment: Sale of the OxyChem unit refocuses Occidental on upstream oil & gas and materially reshapes valuation by reducing debt and boosting free cash flow potential—this improves flexibility for buybacks/dividends. Occidental Refocuses On Oil Gas As OxyChem Sale Reshapes Valuation
• Positive Sentiment: Analyst actions (upgrades) and recent price strength have pushed OXY to new 52‑week highs in some reports, reinforcing momentum among momentum and institutional buyers. Zacks upgrade / analyst coverage
• Positive Sentiment: Operational diversification: the 1PointFive STRATOS direct‑air‑capture plant approaching startup adds a carbon‑capture growth angle that can broaden long‑term value beyond E&P cash flows. Occidental, 1PointFive STRATOS DAC plant nears startup
• Neutral Sentiment: Kosmos and Occidental are searching for a third partner on a US Gulf discovery—potential production upside but timelines and economics are uncertain. Kosmos and Oxy seeking third partner for US Gulf find
• Neutral Sentiment: Sector tailwinds from higher oil prices (Strait of Hormuz premium) support revenue outlooks for producers, but macro headline risk keeps returns choppy. Chaos & Crude: 3 Energy Stocks Built to Thrive in This Market
• Negative Sentiment: Geopolitical headlines (report that Iranian officials contacted U.S. counterparts) have triggered intraday profit taking across majors, increasing short‑term volatility for OXY. Occidental, Chevron Stocks Slip. Iranian Officials Contacted U.S., Report Says.
• Negative Sentiment: Some analysts caution the easy upside is gone after the recent ~30% rally; relative underperformance vs. some peers and valuation questions are prompting ratings adjustments and more conservative targets. Occidental Petroleum: Strong Execution, But The Easy Upside Is Gone (Rating Downgrade)

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $53.63 on Thursday. The firm has a 50 day moving average of $45.51 and a 200 day moving average of $44.12. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of 33.31 and a beta of 0.34. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $56.34.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.89% and a net margin of 9.14%.The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.80 EPS. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Occidental Petroleum from $51.00 to $60.00 and gave the company a “positive” rating in a report on Friday, February 20th. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Morgan Stanley lowered their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. The Goldman Sachs Group dropped their price objective on Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday, January 22nd. Finally, Barclays lifted their target price 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. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $50.62.

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.