5 Best Stocks to Buy According to Billionaire Carl Icahn

1. Occidental Petroleum Corp (NYSE: OXY)

Icahn’s Stake Value: $2,290,046,000
Percent of Carl Icahn’s 13F Portfolio: 9.6%
Number of Hedge Fund Holders: 52

Taking the number 1 spot in the list of the 10 best stocks to buy according to billionaire Carl Icahn is Occidental Petroleum Corp (NYSE: OXY) which is an oil and gas company operating in the US, Latin America, the Middle East, and Africa. The company announced a net loss of $346 million or $0.36 per diluted share in the first quarter of 2021 as compared to a net loss of $1.3 billion or $1.41 per diluted share in the fourth quarter of 2020. The board of directors of the company have declared a regular quarterly dividend of $0.01 per share on common stock that is payable on July 15, 2021.

Occidental Petroleum Corp (NYSE: OXY) is well positioned to use its excess cash flows and asset sales proceeds to reduce its debt and other financial obligations. Their strong operational performance has strengthened their financial position as compared to the previous year. The company’s shares have added about 58.2% since the beginning of 2021 as compared to S&P 500 gain of 12.7%. As oil prices have bounced back from their lows, Occidental’s financial results are bound to improve during the current fiscal year. Occidental Petroleum Corp (NYSE: OXY) was also upgraded to “Buy” from “Neutral” by MKM Partners.

You can also take a peek at 10 Best Aristocrat Dividend Stocks to Buy and 10 Best Dividend Stocks to Buy According to Billionaire Richard Chilton.

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