South Dakota Investment Council Trims Position in Occidental Petroleum Corporation $OXY

South Dakota Investment Council trimmed its position in Occidental Petroleum Corporation (NYSE:OXY) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,064 shares of the oil and gas producer’s stock after selling 54,787 shares during the quarter. South Dakota Investment Council’s holdings in Occidental Petroleum were worth $25,549,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Portus Wealth Advisors LLC purchased a new position in Occidental Petroleum during the first quarter valued at approximately $29,000. Caitlin John LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $29,000. Activest Wealth Management boosted its holdings in Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the period. Rossby Financial LCC boosted its holdings in Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the period. Finally, Binnacle Investments Inc purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $35,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OXY. Citigroup lowered their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Wells Fargo & Company upped their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Wolfe Research raised their price target on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, The Goldman Sachs Group dropped their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.17.

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 Stock Performance

Occidental Petroleum stock opened at $56.14 on Thursday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a market cap of $55.84 billion, a P/E ratio of 14.14 and a beta of 0.15. The firm’s fifty day moving average price is $54.53 and its 200-day moving average price is $53.86.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post 5.66 earnings per share for the current fiscal year.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

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.