Wedge Capital Management L L P NC Cuts Stake in Occidental Petroleum Corporation $OXY

Wedge Capital Management L L P NC lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 249,715 shares of the oil and gas producer’s stock after selling 60,819 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Occidental Petroleum were worth $10,268,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OXY. Lighthouse Investment Partners LLC purchased a new position in Occidental Petroleum in the third quarter valued at approximately $22,345,000. DNB Asset Management AS increased its position in Occidental Petroleum by 100.3% in the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock worth $12,654,000 after buying an additional 134,128 shares during the last quarter. Swedbank AB bought a new stake in shares of Occidental Petroleum in the third quarter valued at $35,517,000. Mirabella Financial Services LLP lifted its position in shares of Occidental Petroleum by 154.7% during the 3rd quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after buying an additional 17,958 shares during the last quarter. Finally, Gifford Fong Associates lifted its position in shares of Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.5%

Shares of NYSE:OXY opened at $65.32 on Friday. The firm has a fifty day moving average price of $51.14 and a two-hundred day moving average price of $45.60. The company has a market cap of $64.77 billion, a price-to-earnings ratio of 40.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $66.00.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share 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 firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio is currently 64.60%.

Analyst Ratings Changes

OXY has been the subject of several recent research reports. HSBC lifted their price objective on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. UBS Group increased their target price on shares of Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Truist Financial initiated coverage on shares of Occidental Petroleum in a research note on Tuesday, March 24th. They issued a “hold” rating and a $65.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $42.00 to $47.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Finally, Mizuho upped their price target on shares of Occidental Petroleum from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $55.59.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: Management and strategic shift: OXY announced a planned CEO transition (Vicki Hollub to retire, COO Richard Jackson to succeed) alongside completion of the roughly $9.7B sale of OxyChem — proceeds earmarked to pay down debt and refocus capital on core oil & gas, a clear catalyst for investor enthusiasm. Occidental Petroleum (OXY) Is Up 8.0% After CEO Transition And OxyChem Sale Announcement – Has The Bull Case Changed?
• Positive Sentiment: Momentum reaction: the leadership news sent OXY to a fresh 52-week high as traders bought the governance clarity and balance-sheet improvement narrative. Occidental Petroleum (OXY) Soars to 52-Week High on Leadership Transition
• Positive Sentiment: Big-bank view: J.P. Morgan moved OXY to a Hold, a modest upgrade that reduces near-term analyst uncertainty and supports the stock rebound by signaling less downside from here. J.P. Morgan upgrades Occidental Petroleum (OXY) to a Hold
• Positive Sentiment: Technical/momentum interest: several market pieces highlight OXY as a strong momentum name after a sharp YTD rally, attracting trend-following flows. Here’s Why Occidental Petroleum (OXY) is a Strong Momentum Stock
• Neutral Sentiment: Analyst/coverage noise: TD Cowen’s Hold and new coverage from Truist are adding research flow but no clear consensus upgrade-to-buy signal yet — keeps volatility possible as investors parse differing views. Occidental Petroleum (OXY) Receives a Hold from TD Cowen
• Neutral Sentiment: Context on gains: analysts and outlets note OXY is up roughly ~58% YTD — raises valuation/mean-reversion questions even as momentum persists. Up 58% in 2026, Is It Too Late to Buy Occidental Petroleum?
• Negative Sentiment: Legacy performance critique: some coverage highlights that Hollub’s tenure “hasn’t been good for investors,” reminding market participants that governance change alone doesn’t erase past capital allocation concerns; risk remains if new leadership doesn’t improve returns. Hollub’s Tenure as Occidental CEO May Be Ending. It Hasn’t Been Good for Investors.

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.