Carl Icahn Selling Large Stake in Occidental Petroleum
Carl Icahn seems to be losing his enthusiasm for Occidental Petroleum (NYSE: OXY). The high-profile investor's Icahn Capital divulged in a regulatory filing Monday that it will sell up to 30 million shares of the oil and gas company, which at the maximum would constitute nearly 28% of Icahn's total holding.
In the filing, Icahn Capital said the move was merely a repositioning.
"While we still believe in Occidental, our investment has become somewhat of an outsized position in our investment portfolio, and as a result, we believe it is prudent to reduce the size of our position to rebalance our portfolio," the would-be seller wrote.
Source Fool.com
