35 Non-Tech AI Opportunities Amid DeepSeek Selloff

4. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 71     

Occidental Petroleum Corporation (NYSE:OXY) engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. There are various aspects that make this company a promising investment avenue. For instance, as per the reports for the third quarter of 2024, strong operational performance drove operating cash flow of $3.8 billion and operating cash flow before working capital of $3.1 billion. This underscores the company’s strong operational performance. Additionally, capital spending of $1.7 billion and contributions from noncontrolling interest of $47 million resulted in quarterly free cash flow before working capital of $1.5 billion. This represents the company’s ability to generate substantial free cash flow. Moreover, Oxy is developing numerous nascent technologies and approaches to help find net-zero fuel solutions. A big part of this innovation involves removing emissions directly from the atmosphere right now while simultaneously working toward global commercialization of alternative fuels and materials.