Cigna Investments Inc. New Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Cigna Investments Inc. New trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 29.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,919 shares of the oil and gas producer’s stock after selling 4,508 shares during the period. Cigna Investments Inc. New’s holdings in Occidental Petroleum were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. CAPROCK Group Inc. boosted its stake in shares of Occidental Petroleum by 1.7% in the second quarter. CAPROCK Group Inc. now owns 9,737 shares of the oil and gas producer’s stock worth $575,000 after acquiring an additional 164 shares during the last quarter. Miller Wealth Advisors LLC boosted its stake in shares of Occidental Petroleum by 9.8% in the second quarter. Miller Wealth Advisors LLC now owns 1,973 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 176 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Occidental Petroleum by 1.5% in the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after acquiring an additional 180 shares during the last quarter. Lincoln National Corp boosted its stake in shares of Occidental Petroleum by 3.0% in the first quarter. Lincoln National Corp now owns 7,571 shares of the oil and gas producer’s stock worth $430,000 after acquiring an additional 222 shares during the last quarter. Finally, IndexIQ Advisors LLC boosted its stake in shares of Occidental Petroleum by 5.7% in the first quarter. IndexIQ Advisors LLC now owns 4,180 shares of the oil and gas producer’s stock worth $237,000 after acquiring an additional 224 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on OXY shares. Citigroup lifted their price objective on Occidental Petroleum from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, November 17th. Morgan Stanley reduced their price objective on Occidental Petroleum from $76.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 19th. Mizuho reduced their price objective on Occidental Petroleum from $84.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Jefferies Financial Group began coverage on Occidental Petroleum in a research report on Wednesday, October 19th. They set a “hold” rating on the stock. Finally, Tudor Pickering downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.56.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 1,737,316 shares of the stock in a transaction dated Wednesday, September 28th. The stock was acquired at an average cost of $60.71 per share, with a total value of $105,472,454.36. Following the transaction, the insider now owns 194,351,650 shares in the company, valued at approximately $11,799,088,671.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 0.4 %

OXY opened at $63.71 on Friday. Occidental Petroleum Co. has a 12 month low of $26.05 and a 12 month high of $77.13. The stock has a market capitalization of $57.91 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.86. The business has a fifty day moving average price of $69.53 and a 200 day moving average price of $65.85.

Occidental Petroleum (NYSE:OXYGet Rating) last released its earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.04). Occidental Petroleum had a return on equity of 59.90% and a net margin of 35.11%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.35 billion. Sell-side analysts expect that Occidental Petroleum Co. will post 9.74 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Monday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, December 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. Occidental Petroleum’s dividend payout ratio is currently 4.33%.

Occidental Petroleum Company Profile

(Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

See Also

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.