5 Best Crude Oil Stocks To Buy Today

02. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders as of Q2, 2022: 66

Occidental Petroleum Corporation (NYSE:OXY) is an American oil company that develops and produces oil and gas all over the globe. The firm explores and develops properties for several products, such as oil, natural gas, and natural gas liquids. Occidental Petroleum Corporation (NYSE:OXY) is one of the best energy stocks to buy right now. The company has gained almost 124% this year as of October 20 and is currently trading at a trailing 12-month PE ratio of 6.62. Occidental Petroleum Corporation (NYSE:OXY) is a dividend-paying company. It has a forward dividend yield of 0.76% as of October 20.

Wall Street believes Occidental Petroleum Corporation (NYSE:OXY) will prosper. On October 19, Barclays analyst Jeanine Wai reaffirmed her Overweight rating and increased her price target for Occidental Petroleum Corporation (NYSE:OXY) from $75 to $84.

At the end of Q2 2022, Occidental Petroleum Corporation (NYSE:OXY) was a part of 66 investment portfolios. These funds held stakes of $13.75 billion in the company, up from $12.61 billion in the previous quarter with 67 positions. As of June 30, Berkshire Hathaway is the most prominent investor in Occidental Petroleum Corporation (NYSE:OXY) and has stakes worth more than $9 billion in the company.

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!”