Occidental Petroleum

OXY

Market cap $54.6B

OXY's Permian expansion, lower well costs and technology upgrades position it for sustained production growth and long-term value.

Occidental Petroleum (OXY) reached $53.77 at the closing of the latest trading day, reflecting a -1.47% change compared to its last close.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Investors can find opportunities in stocks where declining share prices are pushing valuations below their historical average.

Occidental Petroleum has been upgraded by Evercore, citing improved capital efficiency and successful deleveraging. Recent optimism is now driven by expectations of sustained higher commodity prices, making bullish theses more secure. Both Seeking Alpha's quant system and Wall Street analysts currently rate OXY as a buy.

Shale producer Occidental Petroleum said in a filing on Friday its worldwide average ​realized oil prices rose 38.4% in ‌the second quarter compared with the previous three months, driven by higher benchmark crude ​rates amid the Middle East conflict.

OXY's production growth, CrownRock assets, debt reduction and rising estimates bolster its appeal, but premium valuation suggests patience.

In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $52.3, denoting a -2.41% move from the preceding trading day.

He now considers it to be a bargain stock. Geopolitical factors should also support the buy case.