11 Best Undervalued Energy Stocks to Invest in Now

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5. Occidental Petroleum Corp. (NYSE:OXY)

Forward P/E Ratio as of April 10: 12.58

Number of Hedge Fund Holders: 68

Occidental Petroleum Corp. (NYSE:OXY) engages in acquiring, exploring, and developing oil and gas properties in the US and internationally. It operates through three segments that include Oil and Gas, Chemical, and Midstream and Marketing.

The company’s Permian Basin operations drive its US oil production and overall growth. In 2024, the company achieved record quarterly US production. This was driven by high operability and improved well performance across the Delaware and Midland Basins within the Permian region. The acquisition of CrownRock also enhanced the company’s scale and high-margin inventory in the Midland Basin.

For 2025, Occidental Petroleum Corp. (NYSE:OXY) expects the Permian Basin to grow with production projected to increase by over 15%. This is attributed to a full year of CrownRock contributions and modest growth across legacy positions. CrownRock assets alone are expected to average over 170,000 BOE per day, which represents more than 5% growth. Over 75% of the company’s oil and gas capital is allocated to its US onshore portfolio, with a substantial portion dedicated to the Permian.

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