Principal Financial Group Inc. Sells 13,596 Shares of Occidental Petroleum Corporation $OXY

Principal Financial Group Inc. lowered its position in Occidental Petroleum Corporation (NYSE:OXY) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 821,124 shares of the oil and gas producer’s stock after selling 13,596 shares during the quarter. Principal Financial Group Inc. owned 0.08% of Occidental Petroleum worth $39,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in OXY. Vanguard Group Inc. grew its holdings in 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 worth $3,696,716,000 after acquiring an additional 699,137 shares during the last quarter. State Street Corp raised its stake in shares of Occidental Petroleum by 2.1% during the fourth 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 acquiring an additional 828,848 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $771,949,000 after acquiring an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $436,008,000 after purchasing an additional 1,883,721 shares during the period. Finally, Invesco Ltd. grew its stake in shares of 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 last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on OXY shares. Stephens decreased their price objective on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. The Goldman Sachs Group reduced their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Citigroup lowered their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Finally, Truist Financial lifted their price objective on Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $58.37 on Friday. The company has a market capitalization of $58.35 billion, a PE ratio of 9.04, a P/E/G ratio of 0.78 and a beta of 0.15. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The firm has a fifty day simple moving average of $54.19 and a 200 day simple moving average of $54.93.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 53.4% compared to the same quarter last year. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 5.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio is currently 16.10%.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Analysts remain bullish: Recent commentary highlights Occidental’s operational improvements, valuation and potential for long-term momentum. One analyst framework identifies OXY as an attractive stock for investors seeking a combination of value, growth and momentum. Why Analysts are Bullish on Occidental Petroleum Why Occidental Petroleum Is a Top Momentum Stock for the Long Term
• Positive Sentiment: Strong Q2 execution supports the shares: Management attributed the earnings beat to efficiency gains, disciplined cost control and improved production, particularly in the Permian Basin. Gas-marketing optimization also benefited the midstream and marketing segment, while lower principal debt strengthens the balance sheet. 5 Insightful Analyst Questions From Occidental Petroleum’s Q2 Earnings Call
• Positive Sentiment: Higher price target signals upside: Susquehanna raised its target for Occidental to $70, implying analysts see additional appreciation potential from current trading levels. Susquehanna Raises Occidental Petroleum Price Target to $70
• Positive Sentiment: Energy-market backdrop is supportive: Rising crude prices and concerns over Middle East tensions, including potential disruption around the Strait of Hormuz, are drawing attention to oil producers such as OXY because higher oil prices can improve upstream revenue and cash flow. Occidental Draws Attention as Crude Rises
• Neutral Sentiment: Management has outlined a goal of generating $4 billion in sustainable annual cash flow by 2030. Achieving that objective will depend on commodity prices, continued production efficiency and further debt reduction. Occidental Q2 2026 Earnings Call Transcript

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.