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

Posted by Brian Himes on Aug 15th, 2026

Principal Financial Group Inc. trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.’s holdings in Occidental Petroleum were worth $39,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Dimensional Fund Advisors LP raised 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 valued at $436,008,000 after purchasing an additional 1,883,721 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Occidental Petroleum by 44.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock valued at $374,470,000 after buying an additional 1,776,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after buying an additional 1,393,638 shares in the last quarter. Wellington Management Group LLP increased its position in Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after buying an additional 1,361,541 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Occidental Petroleum by 326.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,702,420 shares of the oil and gas producer’s stock worth $82,687,000 after buying an additional 1,303,263 shares during the period. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Susquehanna increased their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday. Morgan Stanley lowered their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. The Goldman Sachs Group reduced their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.00.

Read Our Latest Report on OXY

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $58.37 on Friday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $54.19 and a 200-day moving average price of $54.93. The company has a market cap of $58.35 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 0.78 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Occidental Petroleum’s quarterly revenue was up 53.4% on a year-over-year basis. Equities analysts anticipate that Occidental Petroleum Corporation will post 5.81 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis 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 (DPR) is presently 16.10%.

More Occidental Petroleum News

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

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

About Occidental Petroleum

(Free Report)

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.