Encompass Capital Advisors significantly increased its position in Occidental Petroleum (OXY) during the second quarter of 2026, according to a recent SEC filing. The firm's holdings grew by over 152%, from 451.40K shares to 1.14M shares. This regulatory disclosure, filed on August 14, 2026, reflects trades made between March 31 and June 30 of the same year and may not represent the firm's current position.
The move came during a quarter when Occidental was focused on debt reduction and capitalizing on strong oil prices. Public reports from the period noted the company's efforts to lower its principal debt and its potential to generate significant free cash flow. Encompass Capital, known for its energy-focused investment strategy, increased its portfolio weight in Occidental from 0.88% to 1.97% through this trade.