Allstate Corp Invests $1.26 Million in Occidental Petroleum Corporation $OXY

Allstate Corp bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, Holdings Channel.com reports. The fund bought 26,638 shares of the oil and gas producer’s stock, valued at approximately $1,259,000.

A number of other institutional investors also recently added to or reduced their stakes in OXY. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at approximately $27,000. City Holding Co. grew its stake in shares of Occidental Petroleum by 250.0% during the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. GoalVest Advisory LLC purchased a new position in Occidental Petroleum in the third quarter valued at $38,000. Hantz Financial Services Inc. raised its stake in Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its stake in Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OXY shares. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective on shares of Occidental Petroleum in a report on Tuesday, November 25th. Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $44.00 price target (down from $51.00) on shares of Occidental Petroleum in a research note on Monday, December 8th. Susquehanna boosted their price objective on shares of Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, November 13th. Finally, Evercore ISI dropped their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $49.43.

Key Occidental Petroleum News

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

• Positive Sentiment: Market chatter expects a dividend increase tied to strong cash flow and the OxyChem sale — a move that could lift OXY shares if confirmed at the upcoming quarterly report. If Occidental Petroleum Hikes Its Dividend as Expected, OXY Stock Could Rally
• Positive Sentiment: Analysts and strategists outline a bullish case if proceeds from the OxyChem sale are returned to shareholders via dividend/buybacks; that narrative supports upside potential into the earnings print. The Bull Case For Occidental Petroleum (OXY) Could Change Following OxyChem Sale And Dividend Expectations
• Neutral Sentiment: Pre-earnings previews note Wall Street is conservative on Q4 estimates; results could move the stock either way depending on commodity prices, production and capital allocation commentary. Occidental Petroleum’s Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: Options-focused pieces highlight shorting near-term out-of-the-money OXY puts as an income strategy, implying some traders expect limited near-term downside or are monetizing elevated implied volatility. If Occidental Petroleum Hikes Its Dividend As Expected, OXY Stock Could Rally (Options)
• Negative Sentiment: Western Midstream said it renegotiated gathering/processing contracts with Occidental and will receive a $610M unit transfer — a deal that could trim Occidental’s midstream control or change cash/asset profiles, creating short-term uncertainty. Western Midstream renegotiates Occidental contracts, to get $610 million in unit transfer
• Negative Sentiment: Scotiabank trimmed its price target slightly after the OxyChem sale news and kept a neutral/sector-perform view — a modest analyst downgrade that can add selling pressure ahead of earnings. Occidental (OXY) Sells OxyChem, Scotiabank Lowers PT
• Neutral Sentiment: Headline roundups (MSN/Barchart) summarize the same themes — dividend expectations, upcoming earnings and analyst commentary — which keeps headlines active but doesn’t add a new catalyst. Occidental Petroleum (OXY) Stock Moves -1.08%: What You Should Know

Occidental Petroleum Stock Performance

Shares of OXY opened at $42.22 on Wednesday. The company’s 50 day simple moving average is $41.58 and its 200-day simple moving average is $43.36. The firm has a market cap of $41.60 billion, a PE ratio of 31.05 and a beta of 0.38. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $52.58. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the prior year, the business earned $1.00 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is 70.59%.

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. This represents a 2.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

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.