Occidental Petroleum Corporation (NYSE:OXY) is Rule One Partners LLC's 4th Largest Position

Rule One Partners LLC reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,501 shares of the oil and gas producer's stock after selling 50,000 shares during the period. Occidental Petroleum accounts for about 5.3% of Rule One Partners LLC's investment portfolio, making the stock its 4th largest holding. Rule One Partners LLC's holdings in Occidental Petroleum were worth $13,599,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum in the 4th quarter valued at about $32,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $39,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research analyst reports. Susquehanna reduced their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Barclays raised their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. UBS Group lowered their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Mizuho dropped their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.71.

Occidental Petroleum Price Performance

Shares of OXY stock traded up $0.08 on Friday, reaching $43.63. The company's stock had a trading volume of 11,719,864 shares, compared to its average volume of 12,059,658. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $62.55. The company has a market capitalization of $42.94 billion, a P/E ratio of 17.74 and a beta of 0.84. The stock's 50 day simple moving average is $43.39 and its 200-day simple moving average is $45.11.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.20%. Occidental Petroleum's payout ratio is 39.02%.

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.