Michael Burry Is Selling These 5 Stocks

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1. Occidental Petroleum Corporation (NYSE: OXY)

Number of Hedge Fund Holders: 57    

Occidental Petroleum Corporation (NYSE: OXY) is placed first on our list of 15 stocks Michael Burry is selling. The company develops oil and gas properties and operates from Texas. According to regulatory filings, Scion Asset Management, which sold off the stake it held in the firm entirely during the second quarter, first acquired a stake in the firm in the first quarter of 2021. It paid an estimated average price of $26.62 per share for the stake. At the end of June, the shares of the company were trading at $31.27. 

On June 30, investment advisory Wells Fargo maintained an Equal Weight rating on Occidental Petroleum Corporation (NYSE: OXY) stock and raised the price target to $34 from $28, noting that the firm had sustained six consecutive quarters of working capital outflows. 

At the end of the second quarter of 2021, 57 hedge funds in the database of Insider Monkey held stakes worth $3.6 billion in Occidental Petroleum Corporation (NYSE: OXY), up from 52 the preceding quarter worth $3.4 billion.

You can also take a peek at 10 Best No-Fee DRIP Stocks to Buy Now and 10 Stocks to Buy and Hold for Long Term According to Warren Buffett.

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