#2 - Occidental Petroleum (NYSE:OXY)
If inflation does trend higher, oil prices will be a likely cause. Despite oil prices being range bound since 2022, many analysts still expect that crude oil prices will reach or exceed $100 between 2025 and 2030. A resurgent global economy along with geopolitical concerns are cited as the reasons that will drive global demand.
That means oil stocks should be on your radar and Occidental Petroleum Co. (NYSE: OXY) is one of top names to consider. In addition to the likelihood for higher oil prices, one reason to consider OXY stock is the company’s strong cash flow which has accelerated even with oil prices trading in a distinct range. Occidental has already shown investors its willingness to use that cash flow to reward shareholders in the form of share repurchases.
That’s undoubtedly caught the attention of Warren Buffett who has made Occidental Petroleum one of his preferred stocks over the last five years. And OXY stock has become more attractive as a defensive play since it began increasing its dividend after cutting it sharply in 2020.
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
- $50.57
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 13 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $62.19 (23.0% Upside)
