#7 - Occidental Petroleum (NYSE:OXY)
The energy sector, and oil stocks specifically, should benefit from the Trump administration’s intention to expand the amount of drilling in the United States, which is already at record levels. Part of that will include easing regulations that will allow for more permits.
This will make big oil stocks like Occidental Petroleum Corp. (NYSE: OXY) attractive. Warren Buffett has been a significant buyer of OXY stock over the past five years. While some may view Occidental Petroleum's 29.3% total return over this period as underwhelming, Buffett is known for his long-term strategy. This approach may pay off, especially with oil prices likely to rise in 2025.
Of course, analysts have been predicting a turnaround in oil prices for well over a year. It didn’t happen in 2024, but a friendlier administration in Washington is likely to be a catalyst for the entire sector. Analysts agree and give OXY stock a consensus price target of $62.10, which is a 29% increase from the closing price on December 26, 2024.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Read More - Current Price
- $51.79
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 13 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $62.10 (19.9% Upside)
As you can see, 2025 may not be a time to reinvent your portfolio. Instead, it's a good time to double down on one or more of your biggest winners from 2024. As we've explained in this presentation, despite the strong growth in these assets, these names have further to run.
Each of the names on this list was chosen using the MarketBeat stock screener. In addition to filtering for large-cap stocks, we also looked for companies that were getting a Moderate Buy, Buy, or Strong Buy rating from analysts. While not a perfect measurement, analyst forecasts are a reliable predictor of institutional sentiment toward a stock.
And speaking of institutional sentiment, you can track the institutional interest for each of the stocks in this presentation through the Ownership tab on the company's stock page. This tells you the percentage of the company's stock that is owned by institutions and shows you the inflows and outflows by quarter over the past 12 months.
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