5 Best American Energy Stocks To Buy Now

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1. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 73

Occidental Petroleum Corporation (NYSE:OXY) shares have gained about 8% year to date through September 19. Occidental Petroleum Corporation (NYSE:OXY) recently said it will acquire Canadian direct air capture technology company Carbon Engineering Ltd. for $1.1 billion in cash.

In another update, Amazon.com, Inc. (NASDAQ:AMZN) agreed to purchase 250,000 metric tons of carbon removal credits over 10 years from Occidental Petroleum Corporation (NYSE:OXY)’s subsidiary 1PointFive.

Here is what Smead Value Fund has to say about Occidental Petroleum Corporation in its Q3 2022 investor letter:

“Our top-performing stocks in the quarter includes Occidental Petroleum (NYSE:OXY). Oil and gas have been the best game in the stock market town this year and it was a pleasant surprise to see home builders pick up even with dour news on interest rates and the economy. For the first three quarters of the year, we should change the name of our fund to the Jed Clampett Fund. Occidental Petroleum (NYSE:OXY), was one of the standouts. Up through the bear market came a “bubblin’ crude!”

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