Aigen Investment Management LP Purchases 41,534 Shares of Occidental Petroleum Co. (NYSE:OXY)

Aigen Investment Management LP raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 444.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,877 shares of the oil and gas producer’s stock after acquiring an additional 41,534 shares during the period. Occidental Petroleum makes up 0.5% of Aigen Investment Management LP’s portfolio, making the stock its 28th biggest holding. Aigen Investment Management LP’s holdings in Occidental Petroleum were worth $2,622,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the second quarter valued at about $92,433,000. Clean Energy Transition LLP acquired a new position in shares of Occidental Petroleum in the first quarter valued at $67,601,000. Sarasin & Partners LLP bought a new position in Occidental Petroleum in the second quarter worth $63,880,000. Scharf Investments LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $42,744,000. Finally, American Century Companies Inc. increased its stake in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Price Performance

NYSE:OXY traded up $0.21 during trading hours on Tuesday, hitting $51.02. The company’s stock had a trading volume of 1,557,647 shares, compared to its average volume of 9,216,322. The stock has a fifty day simple moving average of $52.07 and a 200-day simple moving average of $57.84. Occidental Petroleum Co. has a twelve month low of $49.51 and a twelve month high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a market capitalization of $46.20 billion, a P/E ratio of 12.51 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 21.67%.

Analysts Set New Price Targets

Several research firms recently commented on OXY. Scotiabank cut their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Evercore ISI reduced their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.78.

Occidental Petroleum Company 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.