Cooke & Bieler 13F: Cuts Occidental Petroleum (OXY) Stake by $25M

Cooke & Bieler reduced its holdings in Occidental Petroleum Corporation OXY during the period, according to a Form 13F filing with the SEC on October 21, 2026. The institutional investor parted ways with a block of shares as energy sector valuations shifted.

OXY Occidental Petroleum Corporation

$62.58 ▲ +49.75% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Cooke & Bieler's Occidental Petroleum Position

The firm trimmed its stake by 20.5%, shedding 455,590 shares during the period. That left the fund with 1,764,179 shares of Occidental Petroleum Corporation. The remaining holdings carried a reported value of $97,594,382 at the time of the filing, down from its prior count of 2,219,769 shares.

Other Institutional Activity in Occidental Petroleum

Other large institutional managers made different adjustments to their oil and gas holdings during the stretch. Berkshire Hathaway, Inc held its massive position steady at 264,941,431 shares, worth about $16,558,839,437. Dodge & Cox Inc. trimmed its footprint, cutting 1,318,689 shares to end with 72,764,944 shares valued at roughly $4,547,809,000. Meanwhile, AQR Capital Management, LLC grew its holdings by 2,754,298 shares, ending with 11,473,188 shares worth about $717,074,250, marking a 31.6% increase.

Occidental Petroleum Corporation Stock Down 0.7%

Occidental Petroleum Corporation shares recently traded around $62.48, down about 0.4% from an event-day close of $62.70 on October 21, 2026. The stock trades above its 50-day moving average of $59.62 and well above its 200-day moving average of $55.35. Shares sit about 7.4% below their 52-week high of $67.45 and well above their 52-week low of $38.80.

Recent Earnings

Occidental Petroleum Corporation generated $23.93 billion in trailing twelve month revenue with $3.52 in earnings per share. The company reports its next financial results on November 9, 2026.

Dividend

Occidental Petroleum Corporation pays an annual dividend of $1.12 per share, yielding 1.79% with a payout ratio of 28.4%.

Insider Buying and Selling at Occidental Petroleum Corporation

Chief Executive Officer Richard A. Jackson bought 4,770 shares on June 23, 2026, at an average price of $52.38 for a total value of $249,853.

Analysts Set New Price Targets

UBS maintained a Neutral rating on October 14, 2026, with a price target of $73.00. Morgan Stanley maintained an Equal-Weight rating on October 15, 2026, raising its target to $71.00. Truist Securities maintained a Hold rating on October 15, 2026, lifting its target to $64.00. Stephens & Co. maintained an Overweight rating on October 19, 2026, raising its target to $80.00. Susquehanna maintained a Positive rating on October 20, 2026, lifting its target to $77.00. Overall, the stock carries a consensus buy recommendation from 26 analysts with a mean price target of $70.54.

About Occidental Petroleum

Occidental Petroleum Corporation operates as an oil and gas exploration and production company based in Houston, Texas. The company focuses on acquiring, developing, and producing oil, natural gas liquids, and natural gas properties in the United States and international markets, alongside midstream and marketing operations.

Bottom Line

Investors are keeping an eye on Occidental Petroleum Corporation ahead of its upcoming earnings release on November 9, 2026. Institutional shifts by firms like Cooke & Bieler highlight how major portfolio managers rebalance energy allocations as market prices fluctuate.