Vivek Ramaswamy’s New ETF: Top 5 Stock Picks

In this article, we will look at the top 5 stocks that make up anti-ESG investor Vivek Ramaswamy’s new energy ETF. If you want to read about Vivek Ramaswamy and his thoughts on fossil fuels to generate energy, you can read “Anti ESG” Investor Vivek Ramaswamy’s New ETF: Top 10 Stock Picks.

5. Occidental Petroleum Corporation (NYSE:OXY)

Percentage of Strive U.S. Energy ETF’s Portfolio: 3.3%

Number of Hedge Fund Holders: 66

Occidental Petroleum Corporation (NYSE:OXY) is a leading oil and gas exploration company that operates in the United States, the Middle East, Africa, and Latin America. The company operates through three business divisions: Oil and Gas, Chemical, and Midstream and Marketing. As of September 8, Occidental Petroleum Corporation (NYSE:OXY) has surged 161.54% year to date.

Wall Street is bullish on Occidental Petroleum Corporation (NYSE:OXY) and sees potential upside to the stock. On August 31, Barclays analyst Jeanine Wai revised her price target on Occidental Petroleum Corporation (NYSE:OXY) to $75 from $79 and reiterated a buy-side Overweight rating on the shares. On September 6, Morgan Stanley analyst Devin McDermott raised his price target on Occidental Petroleum Corporation (NYSE:OXY) to $76 from $70 and maintained an Equal Weight rating on the shares.

Occidental Petroleum Corporation (NYSE:OXY) is trading at bargain levels. As of September 8, the stock has a trailing twelve-month PE ratio of 6.39 and is offering a forward dividend yield of 0.70%, which the company supports with free cash flows of $11.47 billion.

At the end of Q2 2022, 66 hedge funds were bullish on Occidental Petroleum Corporation (NYSE:OXY) and held stakes worth $13.75 billion in the company. This is compared to 67 hedge funds in Q1 2022 with stakes worth $12.6 billion.

Smead Capital Management mentioned Occidental Petroleum Corporation (NYSE:OXY) in its second-quarter 2022 investor letter, here is what the firm had to say:

“For the quarter, our best-performing stocks were Continental Resources (CLR), Merck (MRK) and Occidental Petroleum Corporation (NYSE:OXY). Despite a steep sell-off in June in the oil and gas stocks, two of our oil stocks made the quarterly list.

If you are wondering how we are outperforming the S&P 500 Index in the first half of the year, look no further than our top three performers. Occidental Petroleum (OXY), Continental Resources (CLR) and Conoco Phillips (COP) soared in value and were barely represented in the S&P 500 Index. To quote Jerry Jones, owner of the Dallas Cowboys, “We are in the first quarter on higher energy prices!””