Occidental Petroleum has a capitalization of US$23b, which is too big. Both institutions and retail investors own a portion of the company. Hedge funds don’t have many shares in Occidental Petroleum. The Largest shareholder is Dodge & Cox, with ownership of 13%. Meanwhile, the second and third largest shareholders hold 10% and 7.7%, of the shares outstanding, respectively. A closer look at our ownership figures suggests that the top 15 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.
The stock underperformed when compared to some of its competitors Monday, as Exxon Mobil Corp. XOM fell 0.66% to $55.50, Chevron Corp. CVX fell 1.11% to $101.78, and ConocoPhillips COP fell 0.72% to $50.86. Trading volume (15.3 M) remained 4.1 million below its 50-day average volume of 19.4 M.Petroleum company is in talks to sell its oil and gas fields in Ghana for more than $500 million. The Petroleum company acquired these assets as part of its $55 billion purchase of Anadarko Petroleum in 2019. It had initially agreed to sell them to French energy giant Total for $8.8 billion as part of a package deal that included all of Anadarko’s African assets.
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