Palumbo Wealth Management LLC Trims Holdings in Occidental Petroleum Corporation $OXY

Palumbo Wealth Management LLC trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY) by 31.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,645 shares of the oil and gas producer’s stock after selling 11,529 shares during the period. Palumbo Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 89,201,540 shares of the oil and gas producer’s stock valued at $4,214,773,000 after acquiring an additional 697,521 shares during the period. State Street Corp raised its stake in shares of 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 acquiring an additional 615,566 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after acquiring an additional 900,677 shares during the period. Invesco Ltd. raised its stake in shares of Occidental Petroleum by 0.4% in the 3rd quarter. Invesco Ltd. now owns 5,658,899 shares of the oil and gas producer’s stock valued at $267,383,000 after acquiring an additional 24,755 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Occidental Petroleum by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,241,267 shares of the oil and gas producer’s stock valued at $200,400,000 after acquiring an additional 15,304 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Key Occidental Petroleum News

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

• Positive Sentiment: Oil-driven rally: Middle East conflict has lifted crude prices sharply, which boosted Occidental’s operating outlook and helped drive the stock’s recent rally. Why Occidental Petroleum Rallied in March
• Positive Sentiment: Momentum and buy signals: OXY was added to Zacks’ Rank #1 (Strong Buy) momentum lists this week, reflecting strong technical and sentiment momentum that can attract momentum-focused funds. Best Momentum Stocks to Buy for April 7th
• Positive Sentiment: Analyst upgrade and earnings setup: Wolfe Research raised its price target to $70 and kept an outperform rating, and Zacks highlights Occidental’s history of earnings surprises and a setup that could produce another beat — both support upside potential. Wolfe Research Adjusts Price Target Why Occidental Could Beat Earnings
• Neutral Sentiment: Strong one-year performance but mixed fundamentals: Zacks notes OXY has surged ~74% over the past year thanks to Permian scale, CrownRock integration and debt paydown, but also flags lagging ROE and a rich valuation — a mixed signal for longer-term investors. Occidental Outperforms Industry
• Negative Sentiment: Geopolitical tail-risk: High sensitivity to Middle East tensions is a two-way sword — commentators warn OXY could suffer significant declines if peace returns and oil prices pull back, creating clear downside risk. Jim Cramer Says Occidental Is a “Big Loser If Peace Breaks Out”
• Negative Sentiment: Volatility and valuation risk: Rapid oil gains (e.g., reports of a ~70% move in recent weeks) increase short-term volatility; with valuation described as rich by some analysts, a pullback in oil or profit-taking could pressure the stock. Oil Surged 70% in 26 Trading Days

Occidental Petroleum Price Performance

Shares of OXY opened at $62.81 on Wednesday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $67.45. The firm’s 50 day moving average price is $53.96 and its 200 day moving average price is $46.44. The company has a market cap of $62.29 billion, a P/E ratio of 39.01 and a beta of 0.23. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 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 during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s payout ratio is currently 64.60%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Bank of America upped their target price on shares of Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Barclays upped their target price on shares of Occidental Petroleum from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Finally, Truist Financial began coverage on shares of Occidental Petroleum in a research note on Tuesday, March 24th. They set a “hold” rating and a $65.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.52.

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.