Aigen Investment Management LP Has $608,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Aigen Investment Management LP reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 75.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,310 shares of the oil and gas producer’s stock after selling 38,567 shares during the period. Aigen Investment Management LP’s holdings in Occidental Petroleum were worth $608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $6,337,000. Snider Financial Group bought a new position in shares of Occidental Petroleum in the 4th quarter worth $390,000. Keybank National Association OH boosted its position in shares of Occidental Petroleum by 5.9% in the 4th quarter. Keybank National Association OH now owns 13,745 shares of the oil and gas producer’s stock worth $679,000 after purchasing an additional 760 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Occidental Petroleum by 7.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,939 shares of the oil and gas producer’s stock worth $540,000 after purchasing an additional 789 shares during the last quarter. Finally, Alta Capital Management LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $498,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. UBS Group lifted their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Mizuho reduced their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.50.

Occidental Petroleum Price Performance

NYSE:OXY opened at $45.69 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock’s 50-day simple moving average is $49.29 and its 200 day simple moving average is $50.79. The company has a market cap of $42.88 billion, a P/E ratio of 18.73 and a beta of 1.55. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by insiders.

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.