Billionaire Carl Icahn Portfolio: Top 5 Stock Picks

3. Occidental Petroleum Corporation (NYSE:OXY)

Carl Icahn’s Stake Value: $1,331,110,000

Percentage of Carl Icahn’s 13F Portfolio: 5.91%

Number of Hedge Fund Holders: 60

Carl Icahn decreased his stake in Occidental Petroleum Corporation (NYSE:OXY) by 9% in the third quarter, holding 45 million shares worth $1.33 billion in the company. The stock accounts for 5.91% of his Q3 13F securities. Occidental Petroleum Corporation (NYSE:OXY) is a Houston-based hydrocarbon exploration and petrochemical manufacturing company, with operations in multiple countries. 

One of the leading Occidental Petroleum Corporation (NYSE:OXY) stakeholders from the third quarter is Rajiv Jain’s GQG Partners, holding 19.85 million shares valued at $587.2 million. Overall, 60 hedge funds tracked by Insider Monkey were long Occidental Petroleum Corporation (NYSE:OXY), up from 57 funds in the previous quarter. 

On November 4, Occidental Petroleum Corporation (NYSE:OXY) reported earnings for Q3, posting an EPS of $0.87, beating estimates by $0.21. The quarterly revenue totaled $6.82 billion, up almost 108% year-over-year, outperforming estimates by $247.24 million. 

Mizuho analyst Silvio Micheloto on November 30 raised the price target on Occidental Petroleum Corporation (NYSE:OXY) to $50 from $48 and kept a Buy rating on the shares, citing rising global demand and prices for oil. 

Here is what Smead Capital Management has to say about Occidental Petroleum Corporation (NYSE:OXY) in its Q3 2021 investor letter:

“Oil stocks dominated our winners for the quarter. We showed that we have unlimited ability to tempt fate by buying into Occidental Petroleum (OXY) this year after it was our biggest loser of 2020. It gained 16.64% during the third quarter.”