Billionaire Glenn Russell Dubin’s 10 Stock Picks with Huge Upside Potential

8. Occidental Petroleum Corporation (NYSE:OXY) 

Number of Hedge Fund Holders: 68

Upside Potential: 33.10%

Occidental Petroleum Corporation (NYSE:OXY) is a prominent player in the energy sector, with operations in upstream oil and gas production, basic chemicals manufacturing, and midstream logistics. Its U.S. operations, particularly in the Permian Basin, account for a considerable portion of its total output, while foreign assets diversify its hydrocarbon portfolio. The company also distributes and transports natural gas liquids, carbon dioxide, and electricity, positioning itself as an integrated player in the evolving energy sector.

In terms of financial performance, Occidental Petroleum Corporation (NYSE:OXY) generated $4.9 billion in free cash flow for the fiscal year ending December 31, 2024, including $1.4 billion in the fourth quarter alone. Occidental Petroleum Corporation (NYSE:OXY) paid out $800 million in dividends and met its $4.5 billion debt reduction goal seven months early. OxyChem, the chemical division, generated $1.1 billion in pre-tax income in 2024. Notably, capital expenditures were $6.8 billion, at the low end of guidance. The board’s 9% dividend hike demonstrated confidence in the company’s cash-producing capabilities.

Furthermore, strategic growth through the Crown Rock acquisition included high-margin Midland Basin assets with an estimated output of more than 170,000 BOE/day by 2025. Occidental Petroleum Corporation (NYSE:OXY) has advanced major carbon capture initiatives, including the Stratos facility and the Battleground project. In 2025, output is projected to rise to 1.42 million BOE/day, driven by more than 15% growth in the Permian. OxyChem is expected to contribute $1 billion in profits. These actions are consistent with Occidental’s plans to improve long-term margins and support its energy transition strategies.

While Q1 production is expected to be weaker due to seasonality and pipeline constraints, output is forecasted to rebound significantly in the second half of 2025. Glenn Russell Dubin’s stock portfolio holds $42.9 million worth of Occidental Petroleum Corporation (NYSE:OXY) shares, or 1.6% of his portfolio, positioning OXY as a key long-term energy investment with substantial upside, driven by improving oil demand and production economics.