Occidental Petroleum (NYSE:OXY) Upgraded at Zacks Research

Zacks Research upgraded shares of Occidental Petroleum (NYSE:OXY) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts also recently commented on the company. The Goldman Sachs Group reduced their price objective on Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday, January 22nd. HSBC boosted their price target on shares of Occidental Petroleum from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, February 20th. BMO Capital Markets lifted their target price on shares of Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Citigroup dropped their price target on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on Occidental Petroleum from $42.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, February 20th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $50.62.

Occidental Petroleum Trading Down 0.1%

Shares of OXY stock opened at $53.63 on Monday. The firm has a market capitalization of $52.89 billion, a P/E ratio of 33.31 and a beta of 0.34. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $56.34. The firm’s fifty day simple moving average is $45.51 and its 200 day simple moving average is $44.12. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

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

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was bought at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the purchase, the director owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares during the last quarter. State Street Corp boosted its position in Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after buying an additional 828,848 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after acquiring an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the period. Finally, Invesco Ltd. increased its position in Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after purchasing an additional 1,071,948 shares during the period. Institutional investors and hedge funds own 88.70% 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)

About Occidental Petroleum

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.