Occidental Petroleum Stock Turns Lower. Carl Icahn Exits His Position

Mar 07, 2022

Occidental Petroleum Stock Turns Lower. Carl Icahn Exits His Position.

Occidental Petroleum shares fell Monday after activist investor Carl Icahn made an exit from his position in the assets.

Occidental traded substantially higher in the premarket session following a jump in oil prices Monday on supply concerns as the US and its allies considered a prohibition on Russian oil in response to Moscow's invasion of Ukraine. The US benchmark, West Texas Intermediate crude oil, increased 2.6 percent to $118.7 a barrel — it had previously traded as high as $127. Brent crude futures were up 4.2 percent to $123.11 a barrel, having hit $130 a barrel on Monday.

Secretary of State Antony Blinken stated over the weekend that the US and its European allies had been engaged in a "very active debate" over the possibility of prohibiting the purchase of Russian oil.

According to the Wall Street Journal, Icahn has sold the last of his roughly 10% holding in Occidental Petroleum.

According to the Journal, Icahn has been reducing his investment in the firm and just sold the remaining, according to a letter he submitted to Occidental's board of directors. According to the Journal, Icahn's two members on Occidental's board of directors are also departing.

Icahn had fought with Occidental and lambasted its CEO, Vicki Hollub, following the company's $38 billion acquisition of Anadarko Petroleum in May 2019.

"While we disagreed with Vicki Hollub on M&A, we commend her for deploying her well-honed operational abilities and resiliency so effectively during Occidental's darkest hours," Icahn stated in the letter. "We feel our partnership with Occidental exemplified the finest of activism."

Meanwhile, Berkshire Hathaway announced late Friday in a filing that it holds a $5.1 billion interest in oil-and-gas producer Occidental Petroleum (OXY).

Berkshire Hathaway (BRK.A) disclosed in a Form 4 filing with the Securities and Exchange Commission on Friday that it now owns 91.2 million shares of Occidental Petroleum, up from 29.8 million shares on Tuesday, as disclosed in a separate 13-G SEC filing on Friday.

Occidental's stock declined 2.7% to $54.65 a share on Monday. In 2022, the stock jumped 88 percent as oil prices reached their highest level since 2008.

Subscribe Our Newsletter

SEC Appeal XRP Legal Battle Continues Amid Leadership Change

Alexander

SEC Appeal XRP: Legal Battle Continues Amid Leadership Change

The XRP vs SEC lawsuit takes a new turn as the regulator proceeds with its appeal. Investors anticipate possible settlement talks under a pro-crypto chair.

Banks and Finance
China Rate Cut Introduced to Spur Economic Growth

Nato

China Rate Cut: Central Bank Slashes Interest Rates to Boost Economic Growth

China's central bank announced a significant interest rate cut to stimulate economic growth, focusing on combating inflation and boosting liquidity. Will it be enough?

Banks and Finance
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Anna

Forex Liquidity in 6 Questions and Tips on How to Become Successful in Trading
In today’s context, it is a well known fact that Foreign Exchange market (or Forex, or FX) is the largest and the most gainful financial market in the world. Its trading volume reaches over $6 trillion daily.

discover
What You Should Know About Energy Liquidity?

Liquidity Provider

What You Should Know About Energy Liquidity?

Let's find out, which instruments does the energy market include, what is the role of a liquidity provider in the energy market, how to choose the best liquidity providers and more.

Liquidity
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers

    Constantine

    Best DAO Projects in 2025

    Best DAO projects in 2025

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.