10 Most Promising Energy Stocks to Buy Now

7. Occidental Petroleum Corporation (NYSE:OXY)

Upside Potential as of July 7: 32.60%

Occidental Petroleum Corporation (NYSE:OXY) is an international energy company that produces, markets, and transports oil and natural gas.

On June 29, Morgan Stanley trimmed its price estimate on Occidental Petroleum Corporation (NYSE:OXY) from $74 to $68, but maintained an ‘Equal Weight’ rating on the shares. The lowered target still reflects an upside of over 39% from the current price level.

The analyst firm revised its estimates to reflect the recent changes in global energy prices. The WTI crude oil price has declined by over 60% from its recent multi-year high and is now hovering close to its pre-war levels following the US-Iran memorandum of understanding on June 14.

Occidental Petroleum Corporation (NYSE:OXY) recently adjusted the midpoint of its full-year 2026 production guidance to 1.44 million BOE per day. It also reaffirmed its capital guidance range of $5.5 billion to $5.9 billion for the year. Occidental’s principal debt stood at $13.3 billion at the end of the first quarter, and the company has a near-term target to reduce this figure to $10 billion.

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