Top 10 Oil and Gas Stocks To Buy According to Analysts

7. Occidental Petroleum Corporation (NYSE:OXY)  

Average Analyst Price Target: $63.65

Upside Potential: 25.02%

Number of Hedge Fund Holders as of Q3: 71

Occidental Petroleum Corporation (NYSE:OXY), based in Houston and incorporated in Delaware, is a leading U.S. company specializing in hydrocarbon exploration across the United States and the Middle East. The company also operates petrochemical manufacturing facilities in the U.S., Canada, and Chile.

On November 14, Susquehanna maintained a Positive rating on Occidental Petroleum Corporation (NYSE:OXY) but revised the stock’s price target downward to $65 from $77. This adjustment came after the company’s third-quarter results, which exceeded expectations for both production and earnings per share. Notably, the company reported a substantial debt reduction, with Occidental Petroleum Corporation (NYSE:OXY) paying off $4 billion—reaching nearly 90% of its short-term $4.5 billion debt reduction goal—just two months after closing the CrownRock acquisition.

Occidental Petroleum Corporation (NYSE:OXY) plans to sustain a five-rig program within its CrownRock assets through 2025, a move expected to drive mid-single-digit production growth. The company also aims to maintain flexibility in capital expenditures across its broader U.S. onshore portfolio, adjusting to shifts in commodity prices. With the addition of CrownRock assets and strong performance from new wells in the Permian Basin, Occidental Petroleum Corporation (NYSE:OXY) anticipates reaching a production level of 1,450 thousand barrels of oil equivalent per day (Mboe/d) in the fourth quarter.