Exploring Occidental Petroleum Corporation (OXY) Investor Profile: Who’s Buying and Why?

You're looking at Occidental Petroleum Corporation (OXY) and wondering why the smart money is still piling in, especially as the stock trades around $41.69 per share as of November 2025, down over 18% from a year ago. Honestly, the investment narrative is a fascinating mix of old-school oil production strength and a rapid deleveraging story that's hard to ignore. We see that institutional investors own a massive 88.70% of the company, and the heavy hitters like Berkshire Hathaway Inc. and Vanguard Group Inc. are the core of that ownership, with Berkshire Hathaway Inc. alone holding a stake valued at approximately $13.05 billion. This isn't passive investing; it's a clear bet on operational excellence, which was evident when OXY reported Q3 2025 adjusted earnings of $0.64 per share, beating analyst estimates, driven by total production volumes that surpassed guidance at 1.465 million barrels of oil equivalent per day. Are these titans buying for the Permian Basin's strong output, or is it the company's success in cutting long-term debt to $20.84 billion as of September 2025 that seals the deal? Let's dig into the filings to see the real motivations behind these massive bets.

Who Invests in Occidental Petroleum Corporation (OXY) and Why?

You're looking at Occidental Petroleum Corporation (OXY) and trying to figure out who is driving the stock's action, and honestly, it's a story dominated by the biggest players on Wall Street. The direct takeaway is that institutional money, led by a few high-conviction value investors, holds the vast majority of shares, attracted by a focused pure-play strategy and a clear path to debt reduction and shareholder returns in 2025.

Key Investor Types: The Institutional Giants

The investor base for Occidental Petroleum Corporation is overwhelmingly institutional, meaning large firms like mutual funds, pension funds, and asset managers control the lion's share. As of late 2025, institutional investors own approximately 88.70% of the company's total stock. This high percentage, representing over 763.1 million total institutional shares, suggests a stock with lower day-to-day volatility compared to those heavily traded by retail investors, because these large blocks of shares tend to be held for longer periods.

The list of largest holders reads like a who's who of global finance. The most prominent investor, by a huge margin, is Berkshire Hathaway Inc., holding a massive 264.94 million shares, valued at about $12.52 billion as of the third quarter of 2025. Other top holders include passive giants like Vanguard Group Inc., which owns around 80.23 million shares, and BlackRock, Inc., illustrating the stock's inclusion in major index funds and exchange-traded funds (ETFs).

• Berkshire Hathaway: The largest single holder.
• Vanguard Group Inc.: Key index fund representation.
• BlackRock, Inc.: Another major passive fund manager.
• Hedge Funds: Smaller, but strategic, high-conviction stakes.

Investment Motivations: Debt, Dividends, and the Permian

Investors aren't buying Occidental Petroleum Corporation for a quick speculative trade; their motivations are grounded in the company's strategic pivot and financial discipline. The single biggest driver in 2025 is the company's strategic transformation into a pure-play domestic oil and gas powerhouse, largely completed by the sale of its chemical unit, OxyChem. This move is all about focus and financial health.

Here's the quick math on their financial appeal for 2025:

• Debt Reduction: Proceeds from the OxyChem sale are being used to significantly reduce debt, with a target of bringing total debt below the $15 billion mark. This deleveraging saves over $350 million annually in interest expense.
• Growth Prospects: The company is focused on its core assets, particularly the Permian Basin. Occidental Petroleum Corporation achieved a record Permian production of 800,000 BOE per day in the third quarter of 2025, and overall 2025 output is projected to rise to 1.42 million BOE/day.
• Shareholder Returns: The annual dividend is a modest but growing $0.96 per share, yielding about 2.31%. After hitting their debt target, the company plans to resume opportunistic share buybacks, which is a major signal of confidence to the market.

The company's projected net capital expenditures for fiscal year 2025 are high, between $7.2 billion and $7.4 billion, but this spending is concentrated in short-cycle U.S. onshore projects, giving them maximum flexibility to react to oil price swings. You can dig deeper into the company's financial structure by reading Breaking Down Occidental Petroleum Corporation (OXY) Financial Health: Key Insights for Investors.

Investment Strategies: Value and Long-Term Conviction

The dominant strategy among the major holders is a clear-cut case of value investing and long-term conviction, or what we call 'patient capital.' Warren Buffett's Berkshire Hathaway Inc. stake is the prime example, representing a belief in the long-term intrinsic value (Discounted Cash Flow, or DCF) of the company's core oil and gas assets, especially the massive Permian resource base.

To be fair, the stock's current Price-to-Earnings (P/E) ratio is higher than its industry peers, but DCF analysis as of November 2025 suggests the company is undervalued by 36.8%, with an intrinsic value estimate of $67.67 per share. This gap between market price and estimated fair value is what attracts the value crowd. Analysts, however, are defintely more cautious, with the consensus being a 'Hold' rating and an average price target of $48.14.

The strategies break down into three main camps:

Still, the high institutional ownership means that any significant shift in a major holder's position-like a large sale from a fund-can create short-term volatility, even if the long-term outlook remains strong.

Institutional Ownership and Major Shareholders of Occidental Petroleum Corporation (OXY)

You want to know who is buying Occidental Petroleum Corporation (OXY) and why, especially with all the noise in the energy sector. The direct takeaway is that institutional investors-the big money-own the vast majority of the company, and one investor, Berkshire Hathaway Inc., holds a position so large it fundamentally shapes the company's financial strategy.

As of late 2025, institutional ownership is substantial, accounting for approximately 76.26% of Occidental Petroleum Corporation's shares outstanding. This means professional money managers, not individual retail investors, control the company's destiny. The total value of institutional holdings is significant, reaching around $31.816 billion. This level of concentration gives these major shareholders considerable influence, and you should track their moves closely.

Top Institutional Investors and Their Stakes

When you look at the shareholder register, a few names jump out immediately. These aren't just passive index funds; they are some of the largest, most influential asset managers and holding companies in the world. Their positions are massive, reflecting a strong, long-term conviction in Occidental Petroleum Corporation's core business, especially its Permian Basin assets and its carbon capture initiatives.

The top five institutional holders, based on the most recent filings (as of September 30, 2025), control a significant portion of the company. Honestly, Berkshire Hathaway Inc.'s stake is the real story here, dwarfing all others. Here's the quick math on the largest positions:

Berkshire Hathaway Inc.'s holding alone is valued at over $11 billion, making it the single most important investor to watch. These numbers tell you that Occidental Petroleum Corporation is viewed as a foundational energy holding by the largest players, not a speculative trade.

Recent Shifts: Increases, Decreases, and New Bets

The institutional landscape isn't static; it's a constant churn of buying and selling. Looking at the most recent quarter (Q3 2025), the number of institutions increasing their positions slightly outweighed those decreasing them. Specifically, 542 institutions increased their holdings, while 535 decreased them. This suggests a relatively balanced, though slightly net-positive, sentiment among the professional investor class.

For example, during the first quarter of 2025, Vanguard Group Inc. boosted its position considerably, acquiring an additional 12,107,285 shares, representing a 17.8% increase. BlackRock, Inc. also added to its stake, increasing its holdings by 1,633,445 shares in the quarter ending September 30, 2025. However, not everyone was buying; Dodge & Cox slightly reduced its position by -0.462% during that same period. The big index funds like Vanguard and BlackRock, Inc. are generally passive, but their massive inflows still move the needle defintely.

The key ownership changes you should note include:

• Vanguard Group Inc. increased its stake by 0.788% in Q3 2025.
• BlackRock, Inc. added over 1.6 million shares in Q3 2025.
• Dodge & Cox trimmed its position by less than half a percent.

Plus, new money is still flowing in. Firms like WBI Investments LLC and Integrated Quantitative Investments LLC initiated new positions in the second quarter of 2025, valued at approximately $2.01 million and $386,000, respectively. This shows smaller, active managers are still finding entry points.

Impact of Institutional Investors on Strategy and Stock Price

These large investors play two critical roles: they provide stability and liquidity to the stock price, and they exert significant influence on corporate strategy. When an institution files a Schedule 13D, it signals an intent to actively influence management, unlike a passive 13G filing. The sheer size of the holdings by the top five means their decisions alone can create volatility.

The most concrete example of institutional impact is the strategic relationship with Berkshire Hathaway Inc. They're not just a shareholder; they're a strategic partner. In Q3 2025, Occidental Petroleum Corporation completed the sale of its chemicals business, OxyChem, to Berkshire Hathaway Inc. for $9.7 billion. This move was explicitly aimed at reducing Occidental Petroleum Corporation's debt load and improving its balance sheet, a priority for all shareholders.

This strategic divestiture, facilitated by the largest shareholder, is a clear action that directly impacts the company's future. It allows Occidental Petroleum Corporation to focus on its core hydrocarbon exploration and production business, which generated 78.7% of net sales in 2024, and its growing carbon management ventures. The stock price reacts to these moves; for instance, the sale helped reduce annual interest expenses by an estimated $350 million. You can read more about the company's direction and history here: Occidental Petroleum Corporation (OXY): History, Ownership, Mission, How It Works & Makes Money.

Key Investors and Their Impact on Occidental Petroleum Corporation (OXY)

The investor profile for Occidental Petroleum Corporation (OXY) is defintely top-heavy, dominated by a single, highly influential name. The direct takeaway here is that the company's valuation and strategic direction are inextricably linked to the actions and long-term conviction of Warren Buffett and his investment vehicle, Berkshire Hathaway.

Berkshire Hathaway is the most notable shareholder, holding an approximate 28% stake in Occidental Petroleum Corporation (OXY) as of July 2025. This isn't just a large passive stake; it's a massive, long-term endorsement of the company's oil and gas assets, particularly its Permian Basin holdings, and its CEO, Vicki Hollub. Berkshire Hathaway's total holding value is substantial, estimated around $11.3 billion as of early 2025, representing the seventh-largest holding in the Berkshire portfolio. That's a serious vote of confidence.

You also need to look at the other major institutional players, the ones who manage trillions for everyday investors. These firms provide a crucial foundation of liquidity and stability for the stock. The largest institutional holders, outside of Berkshire, include:

• Vanguard Group Inc.: Holding 80,230,989 shares, valued at approximately $3.96 billion as of Q1 2025.
• BlackRock, Inc.: A major passive index fund manager, holding a significant, though slightly smaller, stake.
• Geode Capital Management LLC: Increased its position by 22.0% in Q2 2025, now owning 18,089,878 shares worth about $756.8 million.

The Influence of Buffett's Long-Term Bet

Warren Buffett's influence is less about activism and more about strategic validation. When he buys, the market sees it as a deep-value signal, which helps stabilize the stock during volatile periods. His recent moves show a continued commitment: in February 2025, Berkshire Hathaway bought an additional 763,017 shares for $35.7 million.

Plus, Berkshire Hathaway holds warrants to purchase an additional 83.9 million shares at a strike price of $59.62 each. This gives them a powerful lever, a potential future investment of roughly $5 billion, which hangs over the stock as both a floor and a ceiling for future share price action. It's a clear signal that he sees long-term value in the energy sector and Occidental Petroleum Corporation (OXY)'s low-cost, long-life assets.

Activism and the Push for Deleveraging

While Buffett is a friendly giant, Occidental Petroleum Corporation (OXY) has also dealt with activist pressure, most notably from billionaire investor Carl C. Icahn. Although his initial proxy fight was years ago, his legacy of demanding better capital allocation still resonates. Carl C. Icahn remains the largest individual shareholder, owning 73.63 million shares with a value of approximately $3.15 billion.

The collective investor pressure for debt reduction-a key concern since the Anadarko acquisition-is driving clear, actionable steps from management. Here's the quick math on the company's recent deleveraging efforts:

• Debt Repayment: Occidental Petroleum Corporation (OXY) has repaid $6.8 billion of debt since Q3 of last year (as reported in Q1 2025).
• OxyChem Sale: The company recently announced the sale of its OxyChem business, which will generate $8 billion in net proceeds.
• Target: Management plans to use about $6.5 billion of those proceeds to reduce principal debt, aiming for a total debt level below $15 billion.

This focus on strengthening the balance sheet is crucial; it lowers interest expenses by an estimated $370 million annually and unlocks the ability to return more capital to shareholders. This is what investors demand. You can see how this strategy aligns with the company's long-term goals by reviewing their Mission Statement, Vision, & Core Values of Occidental Petroleum Corporation (OXY).

Recent Investor-Driven Capital Moves

The company's actions in 2025 show a clear response to shareholder expectations for capital returns and efficiency. Beyond debt reduction, Occidental Petroleum Corporation (OXY) increased its dividend by approximately 9% in early 2025, signaling a renewed commitment to its common stockholders.

Furthermore, the institutional buying trend in the first half of 2025 suggests that many large funds see Occidental Petroleum Corporation (OXY) as undervalued, trading at a discount to peers with an estimated 6.5x EV/EBITDA. The market is increasingly focused on the company's low-carbon ventures (LVC), specifically its carbon capture and storage (CCS) projects, which could unlock significant future value and are a key reason long-term funds are piling in.

What this estimate hides is the risk of oil prices cratering or regulatory delays in those carbon capture projects. Still, the current investor base-from the Oracle of Omaha to the largest index funds-is betting on operational efficiency and a successful pivot to a hybrid energy model.

Market Impact and Investor Sentiment

You're looking for a clear picture of who is buying Occidental Petroleum Corporation (OXY) and why, especially with all the noise around energy prices and strategic shifts. The direct takeaway is that institutional sentiment is cautiously Neutral-a Hold consensus-but the actions of a few mega-investors, particularly Berkshire Hathaway, signal a strong, long-term conviction that is driving the stock's narrative and price floor.

Institutional investors own the vast majority of Occidental Petroleum Corporation, holding approximately 76.91% of the shares as of October 2025. This high level of institutional ownership means the stock's price movements are heavily influenced by the strategic decisions of a few major players, not just retail sentiment. The market's response to the company's Q3 2025 earnings, where the adjusted earnings per share (EPS) of $0.64 significantly beat the consensus estimate of $0.48, was a positive signal, suggesting operational efficiency is improving despite revenue of $6.71 billion slightly missing expectations. A strong beat like that often provides a temporary boost, but the long-term view remains anchored to deleveraging.

• Institutional Ownership (Oct 2025): 76.91%
• Q3 2025 Adjusted EPS: $0.64 (Beat consensus)
• Recent Stock Movement (Last Week): Up 3.5% (as of Nov 2025)

The Berkshire Hathaway Effect and Major Holders

The most crucial factor in the Occidental Petroleum Corporation investor profile is the massive position held by Berkshire Hathaway Inc. Owning approximately 26.89% of the company, or over 264 million shares, Berkshire Hathaway's stake is a powerful, stabilizing force. This isn't just a passive investment; it's a strategic endorsement from one of the world's most successful investors, suggesting a deep belief in the company's long-term value, especially its massive Permian Basin assets and its future in Carbon Capture, Utilization, and Storage (CCS).

The recent sale of a portion of the company's chemicals business, OxyChem, to Berkshire Hathaway for $9.7 billion is a concrete example of how this key relationship is helping the company execute its strategy. This move is specifically designed to accelerate debt reduction, moving the company closer to its targeted balance sheet health. Other major institutional holders, including Vanguard Group Inc. (9.05%), Dodge & Cox (8.11%), and Blackrock Inc. (5.02%), round out the top tier, indicating broad index fund and value-oriented interest. Here's the quick math on the top institutional stakes:

Analyst Consensus and Near-Term Risks

Wall Street analysts currently maintain a consensus Hold rating for Occidental Petroleum Corporation, with an average price target of $50.88 based on 25 analysts. This range is wide, spanning from a low of $38.00 to a high of $65.00, which tells you the market is defintely split on the company's trajectory. For example, in November 2025, Mizuho raised its price target to $64.00 with an Outperform rating, while Wells Fargo maintained an Underweight rating with a $40.00 target. That's a huge difference in outlook.

The core of the debate centers on the company's financial structure and future growth drivers. On the one hand, the company has made significant progress, repaying $3.0 billion in debt year-to-date through Q3 2025, bringing long-term debt down to $20.84 billion. Plus, the projected capital expenditures for fiscal year 2025 are high, between $7.2 billion and $7.4 billion, indicating a major commitment to future production and strategic projects like CCS. What this estimate hides, however, is the execution risk and the sensitivity of these projects to volatile commodity prices. You can read more about the company's long-term strategic vision here: Mission Statement, Vision, & Core Values of Occidental Petroleum Corporation (OXY).

The bullish case, often reflected in the higher price targets, hinges on the long-term potential of the Barnett Shale assets and the company's leadership in energy transition technologies. The cautious view, reflected in the 'Hold' consensus, is waiting for sustained evidence of debt reduction and free cash flow growth that isn't solely dependent on high oil prices. For 2025, the company projects its interest expenses will be around $1.2 billion, a significant drag that must be reduced to truly unlock value for common shareholders.