South Dakota Investment Council Cuts Holdings in Occidental Petroleum Corporation $OXY

South Dakota Investment Council trimmed its position in Occidental Petroleum Corporation (NYSE:OXY) by 12.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 393,064 shares of the oil and gas producer’s stock after selling 54,787 shares during the period. South Dakota Investment Council’s holdings in Occidental Petroleum were worth $25,549,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. National Pension Service grew its stake in Occidental Petroleum by 13.0% in the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after purchasing an additional 124,879 shares during the period. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 0.8% during the 4th 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. Hosking Partners LLP raised its stake in shares of Occidental Petroleum by 4.9% during the 4th quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock worth $23,741,000 after purchasing an additional 27,030 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Occidental Petroleum by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,385 shares of the oil and gas producer’s stock worth $4,950,000 after buying an additional 22,439 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Occidental Petroleum by 7.2% in the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock worth $140,947,000 after buying an additional 145,100 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on OXY shares. Capital One Financial raised their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Citigroup decreased their price target on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Mizuho lifted their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $59.00 to $72.00 in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.17.

Insiders Place Their Bets

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $56.14 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The company has a market cap of $55.84 billion, a PE ratio of 14.14 and a beta of 0.15. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The firm’s 50-day simple moving average is $54.53 and its two-hundred day simple moving average is $53.86.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. Research analysts predict that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum News Summary

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

• Positive Sentiment: Oil rally supports OXY: Crude prices climbed amid renewed Middle East supply concerns, including escalating tensions involving Iran and uncertainty surrounding the Strait of Hormuz. Higher oil prices generally benefit Occidental’s upstream operations and cash generation. Occidental Petroleum Rises as Oil Rebounds and Strong Q2 Pricing Supports Earnings Hopes
• Positive Sentiment: Strong realized oil prices raise earnings hopes: Occidental reported an average worldwide realized oil price of $96.78 per barrel for the second quarter, above the period’s average WTI price of $92.79. The company is scheduled to report second-quarter results on August 5, and investors are positioning for potential earnings growth or a beat. Occidental Petroleum Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Analyst conviction remains limited: Goldman Sachs and Bank of America Securities both maintained Hold ratings on OXY. The unchanged recommendations may temper enthusiasm despite recent bullish commodity and earnings trends. Goldman Sachs Maintains Hold Rating Bank of America Securities Maintains Hold Rating
• Neutral Sentiment: Options market signals heightened uncertainty: Implied volatility for OXY options has surged, suggesting traders expect larger-than-usual price movements around the earnings report or commodity-market developments. This reflects increased risk and opportunity rather than a clear directional signal. Implied Volatility Surging for Occidental Petroleum Stock Options
• Negative Sentiment: CrownRock acquisition remains a financial consideration: Occidental’s roughly $12 billion purchase of CrownRock could expand its Permian Basin position and production base, but the transaction also creates integration and leverage risks that may constrain valuation if oil prices weaken. Why Occidental Petroleum Is Spending $12 Billion to Buy CrownRock

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.