5 Best Undervalued Energy Stocks to Buy According to Analysts

3. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 71

Average Analyst Price Target as of April 5: $72.40

Average Upside Potential as of April 5: 12.13%

PE Ratio (TTM) as of April 5: 5.21

Occidental Petroleum Corporation (NYSE:OXY) has received 9 Buy ratings and 5 Hold ratings from Wall Street analysts over the past 3 months. The stock’s average upside potential, as of April 5, is 12.13% and Occidental Petroleum Corporation (NYSE:OXY) is trading at a PE multiple of 5x. Occidental Petroleum Corporation (NYSE:OXY) is one of the best undervalued energy stocks to buy now according to analysts.

This March, Raymond James analyst John Freeman updated his price target on Occidental Petroleum Corporation (NYSE:OXY) to $75 from $80 and maintained a Strong Buy rating on the shares.

Occidental Petroleum Corporation (NYSE:OXY) was a part of 71 investors’ portfolios at the close of Q4 2022. These funds held collective stakes worth $16.6 billion in the company. As of December 31, Berkshire Hathaway is the top investor in the company and has disclosed a position worth $12.2 billion.

Here is what Smead Capital Management had 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!”