Rule One Partners LLC Has $16.08 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Rule One Partners LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 18.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 325,501 shares of the oil and gas producer’s stock after buying an additional 50,000 shares during the quarter. Occidental Petroleum accounts for 6.2% of Rule One Partners LLC’s holdings, making the stock its 4th biggest position. Rule One Partners LLC’s holdings in Occidental Petroleum were worth $16,083,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OXY. Segment Wealth Management LLC grew its stake in shares of Occidental Petroleum by 5.2% during the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its position in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. increased its stake in Occidental Petroleum by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 200 shares during the last quarter. Empire Financial Management Company LLC boosted its stake in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after buying an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after acquiring an additional 250 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $48.87 on Friday. The company’s 50-day moving average price is $49.59 and its two-hundred day moving average price is $52.81. The firm has a market cap of $45.86 billion, a P/E ratio of 12.73 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.80%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OXY shares. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the company from $54.00 to $45.00 in a research report on Friday. Stephens lifted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Truist Financial upped their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Mizuho reduced their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Raymond James increased their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.