11 Best Commodity Stocks to Buy

7. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 59

Occidental Petroleum Corporation (NYSE:OXY) is one of the best commodity stocks to buy. On July 17, 2025, Piper Sandler analyst Ryan Todd maintained a “Neutral” rating on Occidental Petroleum while raising the price target from $48 to $50, signaling a modest upside of roughly 14.6% based on recent trading levels. The commentary emphasized Occidental’s ongoing strategic efforts, like hefty cost cuts and diversity in operations across key regions including the Permian Basin and Gulf of Mexico, as reasons for the optimistic tilt despite a cautious rating.

This isn’t just a jog through numbers. Piper Sandler’s move tells us that Occidental is actively tightening its belt, optimizing output, and engineering a path for modest upside, all while managing headwinds with precision.

Occidental Petroleum Corporation (NYSE:OXY), based in Houston, Texas, is a diversified energy company engaged in hydrocarbon exploration and production across the U.S., the Middle East, and North Africa, and also operates a substantial chemicals unit under OxyChem. It’s a heavyweight in U.S. oil, known for strategic flexibility and integrated operations.