5 Oil & Gas Stocks to Buy Today According To Rajiv Jain’s GQG Partners

3. Occidental Petroleum Corporation (NYSE:OXY)

GQG Partners’ Stake Value: $666 million

Percentage of GQG Partners’ 13F Portfolio: 1.65%

Number of Hedge Fund Holders: 68

Occidental Petroleum Corporation (NYSE:OXY) is a global oil and gas developer headquartered in Houston, Texas, United States. The company explores, develops, and produces natural gas and associated products. It operates in the U.S., Middle East, Latin America, and Africa.

Mr. Jain’s investment firm owned 22 million Occidental Petroleum Corporation (NYSE:OXY) shares by the end of Q4 2021. These were worth $666 million and represented 1.65% of its portfolio. During the same time period, 68 out of 924 hedge funds polled by Insider Monkey also owned a stake in the company.

Occidental Petroleum Corporation (NYSE:OXY) brought in $8 billion in revenue and $1.48 in non-GAAP EPS, pleasing Wall Street by beating analyst estimates for both. Morgan Stanley increased the firm’s price target to $52 from $50 in March 2022, outlining that the company has great long term potential via a diversified revenue stream and good asset quality.

Carl Icahn’s Icahn Capital LP is Occidental Petroleum Corporation (NYSE:OXY)’s largest investor through a $1.3 billion stake that comes through 45 million shares.

Smead Capital Management mentioned Occidental Petroleum Corporation (NYSE:OXY) in its third quarter 2021 investor letter, outlining that:

“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.”