Occidental Petroleum Stock (NYSE:OXY), Trade Ideas

Occidental Petroleum

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.

Google -logo

News

Price Target

Markets

Trading Ideas

ACCD

BYND

FIVN

GOOGL

OCGN

TARA

Alphabet To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Monday

gas ai

Commodities

Global

General

Stock market dropped due to fears of Middle East tensions. Analysts worry oil prices could stay high and lead to recession. Gas prices may rise soon.

How Iran&#39;s Attack Against Israel Will Impact Gas Prices You Pay At The Pump

oil rising chart shutter

Equities

Sector ETFs

Intraday Update

ETFs

FANG

TRGP

U.S. energy stocks rise for 9th straight week amid rising geopolitical tensions and oil prices, with top performers including OXY, FANG, and MRO.

Oil Prices Spike Above $90 A Barrel As Iran-Israel Tensions Escalate: US Energy Stocks Eye 9th Week Of Gains

Occidental Petroleum Corporation Common Stock

Occidental Petroleum Corp

Oxygen

Occidental Petroleum Corporation Warrants

<p>Financial giants have made a conspicuous bearish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) revealed 26 unusual trades.</p>
<p>Delving into the details, we found 38% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $601,690, and 18 were calls, valued at $1,442,498.</p>
<h3>What's The Price Target?</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $77.5 for Occidental Petroleum over the last 3 months. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>In today's trading context, the average open interest for options of Occidental Petroleum stands at 4822.59, with a total volume reaching 10,238.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $55.0 to $77.5, throughout the last 30 days.</p>
<h3>Occidental Petroleum 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713811541_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$13.2</td>
<td>$13.1</td>
<td>$13.11</td>
<td>$57.50</td>
<td>$302.7K</td>
<td>1.0K</td>
<td>231</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$2.75</td>
<td>$2.7</td>
<td>$2.7</td>
<td>$67.50</td>
<td>$229.5K</td>
<td>3.9K</td>
<td>0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$3.3</td>
<td>$3.25</td>
<td>$3.3</td>
<td>$67.50</td>
<td>$165.0K</td>
<td>3.0K</td>
<td>633</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$1.63</td>
<td>$1.61</td>
<td>$1.63</td>
<td>$70.00</td>
<td>$161.6K</td>
<td>9.9K</td>
<td>2.4K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$2.95</td>
<td>$2.93</td>
<td>$2.94</td>
<td>$67.50</td>
<td>$147.0K</td>
<td>14.7K</td>
<td>120</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>With a volume of 4,297,628, the price of OXY is up 1.35% at $67.53. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 15 days.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
<p>In the last month, 5 experts released ratings on this stock with an average target price of $76.0.</p>
<ul>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $84. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Occidental Petroleum with a target price of $72. </li>
<li>Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $70. </li>
<li>Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $73.</li>
<li>An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $81. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Options

What the Options Market Tells Us About Occidental Petroleum

<p>Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.</p>
<p>Susquehanna raised the price target for <strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) from $70 to $81. Susquehanna analyst Biju Perincheril maintained a Positive rating. Occidental Petroleum shares rose 0.9% to close at $66.63 on Friday. <a href="https://www.benzinga.com/quote/OXY/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Keybanc boosted the price target for <strong>Alphabet Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) from $165 to $175. Keybanc analyst Justin Patterson maintained an Overweight rating. Alphabet shares fell 1.2% to close at $154.09 on Friday. <a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Chardan Capital increased <strong>Ocugen, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>) price target from $4 to $5. Chardan Capital analyst Daniil Gataulin maintained a Buy rating. Ocugen shares closed at $1.32 on Friday. <a href="https://www.benzinga.com/quote/OCGN/analyst-ratings">See how other analysts view this stock.</a></p>
<p>Canaccord Genuity cut the price target for <strong>Five9, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) from $90 to $75. Canaccord Genuity analyst David Hynes maintained a Buy rating. Five9 shares fell 0.6% to close at $57.09 on Friday. <a href="https://www.benzinga.com/quote/FIVN/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Susquehanna increased <strong>ConocoPhillips</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) price target from $133 to $154. Susquehanna analyst Biju Perincheril maintained a Positive rating. ConocoPhillips shares rose 1.2% to close at $129.38 on Friday. <a href="https://www.benzinga.com/quote/COP/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Keybanc cut Meta<strong> Platforms, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) price target from $575 to $555. Keybanc analyst Justin Patterson maintained an Overweight rating. Meta shares fell 4.1% to close at $481.07 on Friday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Stifel slashed the price target for <strong>Accolade, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) from $15 to $13. Stifel analyst David Grossman maintained a Buy rating. Accolade shares fell 0.4% to close at $9.13 on Friday. See how other analysts view this stock.</p>
<p>Oppenheimer raised <strong>Protara Therapeutics, Inc</strong>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARA#NASDAQ">TARA</a>) price target from $26 to $30. Oppenheimer analyst Leland Gershell maintained an Outperform rating. Protara Therapeutics shares fell 4% to close at $2.64 on Friday. <a href="https://www.benzinga.com/quote/TARA/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Mizuho slashed <strong>Beyond Meat, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) price target from $7 to $6. Mizuho analyst John Baumgartner maintained an Underperform rating. Beyond Meat shares rose 0.2% to close at $6.41 on Friday. <a href="https://www.benzinga.com/quote/BYND/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Morgan Stanley increased <strong>Alcoa Corporation</strong>  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) price target from $28.5 to $36.5. Morgan Stanley analyst Carlos De Alba upgraded the stock from Underweight to Equal-Weight. Alcoa shares rose 0.2% to close at $35.53 on Friday. <a href="https://www.benzinga.com/quote/AA/analyst-ratings">See how other analysts view this stock</a>.</p>
<p>Read More: <a href="https://www.benzinga.com/news/24/04/38350885/albertsons-companies-nucor-and-3-stocks-to-watch-heading-into-monday">Albertsons Companies, Nucor And 3 Stocks To Watch Heading Into Monday</a></p>


<p>Susquehanna  analyst Biju Perincheril   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Positive and raises the price target from $70 to $81.</p>


Analyst Ratings

Susquehanna Maintains Positive on Occidental Petroleum, Raises Price Target to $81

<p>Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 3 are puts, totaling $117,210, and 6 are calls, amounting to $316,311.</p>
<h3>Projected Price Targets</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $85.0 for Occidental Petroleum during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $60.0 to $85.0 in the last 30 days. </p>
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713280576_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$10.8</td>
<td>$10.6</td>
<td>$10.6</td>
<td>$70.00</td>
<td>$106.0K</td>
<td>1.7K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$6.9</td>
<td>$5.4</td>
<td>$6.2</td>
<td>$62.50</td>
<td>$62.0K</td>
<td>9.0K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.1</td>
<td>$4.05</td>
<td>$4.1</td>
<td>$67.50</td>
<td>$54.1K</td>
<td>7.0K</td>
<td style="text-align: right;">56</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$4.25</td>
<td>$4.2</td>
<td>$4.25</td>
<td>$60.00</td>
<td>$42.5K</td>
<td>3.1K</td>
<td style="text-align: right;">343</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.35</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$60.00</td>
<td>$41.5K</td>
<td>3.1K</td>
<td style="text-align: right;">243</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of Occidental Petroleum</h3>
<ul>
<li>With a volume of 4,703,062, the price of OXY is down -3.12% at $66.21. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 21 days.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $77.0.</p>
<ul>
<li>An analyst from Scotiabank upgraded its action to Sector Outperform with a price target of $90. </li>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum with a target price of $69. </li>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $72. </li>
<li>An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $70. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $84. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Looking At Occidental Petroleum's Recent Unusual Options Activity

<p>The overall stock market dropped sharply Friday, with the <strong>SPDR S&amp;P 500 Index </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closing down more than 1% in part due to investors&#8217; fears of an imminent attack by Iran against Israel. While traders were selling stocks, they were buying oil in anticipation of a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252086/oil-gold-markets-swing-from-war-fears-to-calm-over-israel-iran-tensions-what-analys"> price hike due to a military escalation</a> in the Middle East, where much of the world's oil is produced. </p>
<p><strong>What Happened: </strong>Those fears were realized over the weekend with an Iranian attack on Israel, although a coalition of military forces from Israel, the United States, France and other countries defended a majority of the drone attacks. Still, many experts worry that the ongoing Israel-Hamas war in the Middle East could keep oil prices higher for longer, which increases the probability of a recession in the U.S. and other countries.<br /><br /><strong>Analyst Take: Nick Colas</strong>, the co-founder of DataTrek Research, said that if oil prices hover at prices above $100 a barrel, a recession in the U.S. becomes increasingly more likely. Oil prices sat around $85 a barrel for WTI on Monday, trading lower after Friday's spike higher.<br /><br /><strong>Quoted: </strong>"Crude prices are our chief concern," Colas said in a<a href="https://datatrekresearch.com/category/blog/?v=7516fd43adaa"> recent DataTrek newsletter.</a> "But we are a long way away from the $125/barrel level that would almost certainly cause a recession if sustained."<br /><br /><em>Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252086/oil-gold-markets-swing-from-war-fears-to-calm-over-israel-iran-tensions-what-analys">Oil, Gold Markets Swing From War Fears To Calm Over Israel-Iran Tensions: What Analysts Expect Next</a></em></p>
<p>The price of oil and its impact on macroeconomics is complex. For example, sometimes when oil prices are rising it is a sign of a strong economy as increased demand for oil indicates strong economic activity globally. But, in the case of oil prices rising dramatically due to geopolitical factors like war in the Middle East, it could take money out of the pockets of consumers as they are required to pay more at the gas pumps.<br /><br />If Iran's attack triggers a broader conflict in the Middle East, it becomes more likely that oil prices will continue to rise. Gas prices have already gone up dramatically in recent months, reaching a national average above $3.60 according to AAA. Colas says that if gas prices surpass $5 a gallon, it could be very bad news for the economy. But, Monday's price action should give drivers a sliver of hope, as oil prices dipped.<br /><br />Most major energy companies, like <strong>Chevron Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), <strong>Exxon Mobil Corp </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and <strong>Occidental Petroleum Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) dipped on Monday as oil prices also dropped. </p>
<p>There is a lag between crude oil prices and the cost of gasoline at the pump. Typically, when oil prices rise or drop, it takes a few weeks for those price changes to be reflected at the gas station.</p>
<p>But, if Monday's trend continues and the Middle East is able to avoid a further escalation, consumers may soon see relief at the pumps. If the opposite happens, it could be bad news, both for your portfolio as well as your wallet at the gas station. </p>
<p><em>Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38253553/is-ethereum-dead-this-bitcoin-trader-thinks-so-solana-attacking-from-left-flank">Is Ethereum Dead? This Bitcoin Trader Thinks So: &#8216;Solana Attacking From Left Flank&#8217;</a></em></p>
<p><em>Image generated using artificial intelligence via Midjourney.</em></p>


How Iran's Attack Against Israel Will Impact Gas Prices You Pay At The Pump

<p>U.S. energy stocks, as tracked by the <strong>Energy Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), could potentially notch their ninth straight positive week, marking the longest pace of weekly gains since May 2007. </p>
<p>Oil prices surged sharply on Friday following reports suggesting that an Iranian assault on Israel could potentially occur within <a href="https://www.benzinga.com/news/24/04/38217135/israel-prepares-for-possible-iranian-retaliation-within-48-hours-report">the next 48 hours.</a> The Times of Israel reported that &#8220;Iran attack of 100 drones, dozens of missiles could be launched at Israel today.&#8221;</p>
<p>The Israeli Minister of National Security convened a meeting with top officials from the police, civil defense, and emergency services to ensure their readiness for a potential Iranian strike, as reported by Sky News Arabia.</p>
<p>The White House confirmed on Friday that Iran&#8217;s threats to Israel are &#8220;real and credible,&#8221; emphasizing that the United States intends to do everything it can to ensure that Israel is able to defend itself.</p>
<p>Adding to the rising geopolitical tensions in the Middle East, the Foreign Office of the United Kingdom has cautioned its citizens against traveling to Israel and the occupied Palestinian territory due to the &#8220;possibility of an attack on Israeli territory from Iran." </p>
<p>The West Texas Intermediate (WTI) light crude, as tracked by the <strong>United States Oil Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) spiked 2.8% to above $87 a barrel, while Brent prices surged to $91 a barrel, reaching the highest levels in seven months. </p>
<p>Crude is up by 22% year-to-date, while shares of major U.S. energy companies have risen 16%.  </p>
<p><em>Chart: US Energy Stocks Eye 9-Week Of Gains</em></p>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png" alt="" class="wp-image-289826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h3 class="wp-block-heading">Energy Stocks Rising Friday</h3>
<p>During a day characterized by notably heightened market volatility, with the CBOE VIX surging by more than 20%, U.S. energy stocks emerged as the sole S&amp;P 500 sector to remain in positive territory.</p>
<p>Here is a snapshot of the top 10 performers within the XLE ETF on Friday. </p>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Name</strong></td>
<td><strong>1-Day %</strong></td>
</tr>
<tr>
<td><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>2.25%</td>
</tr>
<tr>
<td><strong>Diamondback Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>1.36%</td>
</tr>
<tr>
<td><strong>Marathon Oil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>1.05%</td>
</tr>
<tr>
<td><strong>Devon Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>1.03%</td>
</tr>
<tr>
<td><strong>Exxon Mobil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</td>
<td>0.95%</td>
</tr>
<tr>
<td><strong>Pioneer Natural Resources Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>)</td>
<td>0.90%</td>
</tr>
<tr>
<td><strong>Targa Resources Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>)</td>
<td>0.72%</td>
</tr>
<tr>
<td><strong>EQT Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td><strong>APA Corporation </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td><strong>ConocoPhillips</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>0.58%</td>
</tr>
</tbody>
</table>
<p><figcaption class="wp-element-caption"><em>Updated at 11:30</em> a.m. ET</figcaption></p></figure></p>
<p><em>Read Now:</em> <em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38212196/inflation-upends-feds-plans-when-do-wall-street-analysts-expect-first-interest-rate">Inflation Upends Fed&#8217;s Plans: When Do Wall Street Analysts Expect First Interest Rate Cut?</a></em></p>
<p><em>Image: Shutterstock</em></p>


<p>Scotiabank  analyst Paul Cheng   upgrades Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) from Sector Perform to Sector Outperform and raises the price target from $63 to $90.</p>


Upgrades

Scotiabank Upgrades Occidental Petroleum to Sector Outperform, Raises Price Target to $90

<p>Wells Fargo  analyst Roger Read   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Equal-Weight and raises the price target from $62 to $70.</p>


Wells Fargo Maintains Equal-Weight on Occidental Petroleum, Raises Price Target to $70

<p>Mizuho  analyst Nitin Kumar   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and raises the price target from $69 to $70.</p>


Mizuho Maintains Neutral on Occidental Petroleum, Raises Price Target to $70

<p>Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $262,520, and 11 are calls, amounting to $785,809.</p>
<h3>Expected Price Movements</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $85.0 for Occidental Petroleum over the recent three months. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $55.0 to $85.0 over the preceding 30 days.</p>
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712769345_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.32</td>
<td>$1.29</td>
<td>$1.29</td>
<td>$55.00</td>
<td>$193.5K</td>
<td>21.4K</td>
<td>0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.2</td>
<td>$70.00</td>
<td>$160.0K</td>
<td>5.4K</td>
<td>0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$2.67</td>
<td>$2.62</td>
<td>$2.63</td>
<td>$70.00</td>
<td>$134.1K</td>
<td>9.0K</td>
<td>1.0K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$1.16</td>
<td>$1.15</td>
<td>$1.16</td>
<td>$69.00</td>
<td>$118.3K</td>
<td>11.1K</td>
<td>2.1K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$9.6</td>
<td>$9.55</td>
<td>$9.55</td>
<td>$60.00</td>
<td>$66.8K</td>
<td>4.5K</td>
<td>41</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.</p>
<h3>Occidental Petroleum's Current Market Status</h3>
<ul>
<li>With a trading volume of 4,387,129, the price of OXY is down by -0.66%, reaching $68.1.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 27 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Occidental Petroleum</h3>
<p>Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $74.5.</p>
<ul>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum with a target price of $69. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $84. </li>
<li>In a cautious move, an analyst from Barclays downgraded its rating to Equal-Weight, setting a price target of $73. </li>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $72. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Smart Money Is Betting Big In OXY Options

<p>Barclays  analyst Betty Jiang   initiates coverage on Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Equal-Weight rating and announces Price Target of $73.</p>


Initiation

Barclays Initiates Coverage On Occidental Petroleum with Equal-Weight Rating, Announces Price Target of $73

<p>In a significant development in the energy sector, Iraq is set to reactivate a previously dormant pipeline to Turkey, which could substantially impact regional oil exports and negotiations.</p>
<p><strong>What Happened</strong>: Iraq is reviving a pipeline to Turkey, potentially exporting 350,000 barrels per day by month&#8217;s end, Reuters reported on Sunday. This move comes amid stalled negotiations with the Kurdistan Regional Government (KRG).</p>
<p>The Kirkuk-Ceyhan pipeline, inactive for a decade, offers an alternative to the KRG&#8217;s pipeline, which has been closed for a year. Baghdad views the KRG&#8217;s oil deals with foreign companies as illegal and demands that companies negotiate with the federal government for oil sales through the revived pipeline.</p>
<p>Islamic State attacks halted the pipeline&#8217;s operations in 2014. It was responsible for about 0.5% of the world&#8217;s oil supply. </p>
<p>&#8220;Major crude pumping station with storage facilities has been completed,&#8221; said <strong>Basim Mohammed, </strong> Iraqi deputy oil minister for upstream affairs, indicating the pipeline&#8217;s readiness to restart flows soon.</p>
<p>After an arbitration court ruling last year, the KRG&#8217;s pipeline was shut down, citing treaty violations. Discussions to reopen it have been complicated by conflicting demands from Turkey, the KRG, and the federal government.</p>
<p><em>See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38104437/bitcoin-ethereum-dogecoin-surge-despite-hawkish-remarks-from-fed-president-analysts-predic?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Surge Despite Hawkish Remarks From Fed President—Analysts Predict King Could Now Go Vertical With Several Critical Indicators In Alignment</a></em></p>
<p>Despite the friction, the Kurds and Baghdad rely on each other politically and economically. Kurdish oil exports typically pass through a pipeline to Turkey. Early tests on the pipeline within Iraq revealed leaks, prompting accelerated repair efforts.</p>
<p>The current Iraq-Turkey oil pipeline agreement is set to expire in mid-2025, and the resumption of the old pipeline&#8217;s operations will be a key topic in the extension talks, according to a government energy adviser.</p>
<p><strong>Why It Matters</strong>: As the global oil market grapples with tight supply and rising demand, the reactivation of the Kirkuk-Ceyhan pipeline by Iraq could have significant implications. Earlier this month, oil prices were <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38073267/crude-prices-could-hit-95-this-summer-oil-is-fighting-the-fed-again">expected to potentially hit $95 per barrel</a> this summer due to these market conditions, coupled with ongoing geopolitical tensions.</p>
<p>Moreover, the reestablishment of this route could alter the dynamics of regional oil politics, as Baghdad asserts its authority over oil exports, challenging the KRG&#8217;s independent oil deals.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38107547/hertzs-mega-tesla-gamble-backfired-due-to-sky-high-repair-costs-unusually-high-accident-rates-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hertz&#8217;s Mega Tesla Gamble Backfired Due To Sky-High Repair Costs, Unusually High Accident Rates And Customers&#8217; Charging Anxiety, Report Reveals</a></em></p>
<p><em>Image by Maxx-Studio via Shutterstock</em></p>
<div style="font-family: 'Lato', sans-serif">
<div>
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>
<p style="font-family: sans-serif;padding-top: 20px">
            Engineered by <span style="font-weight: bold;text-decoration: none;color: #225aa9;font-size: 1rem">Benzinga Neuro</span>, Edited by <span style="font-weight: bold;text-decoration: none;color: #225aa9;font-size: 1rem"><br />
                <u><a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a></u><br />
            </span>
        </p>
<hr style="border: 0;height: 1px;background: #225aa9" />
<p style="font-family: sans-serif;padding-top: 20px">
            The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.<br />
            <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
        </p>
<hr style="border: 0;height: 5px;background: #225aa9" />
    </div>
</div>


Politics

Economics

BOIL

KOLD

OILK

Credit Suisse AG - Credit Suisse X-Links Crude Oil Shares Covered Call ETN

USOI

Iraq To Resume Oil Exports To Turkey Via Pipeline Shuttered A Decade Ago Amid Kurdish Negotiation Deadlock

<p>Gold closes out another week at all-time highs above $2,300 per ounce. Demand remains high after a March jobs report came in <a href="https://www.benzinga.com/etfs/specialty-etfs/24/04/38108835/us-labor-market-heats-up-in-march-payrolls-grow-by-303-000-highest-in-10-months-dampen-rate-c">hotter than predicted</a>.</p>
<p>The bullion exhibited an impressive resilience this week, diverging from its typical sensitivity to interest rate concerns. </p>
<p>Gold marked its sixth week of gains in the past seven, rallying by 4% despite warnings from multiple Fed speakers that rate cuts might not materialize as swiftly as anticipated by the market.</p>
<p>Gold also showcased a notable 1.5% gain for the session, underscoring its impressive strength and resilience despite traditional macro headwinds for precious metals.</p>
<p>As the price of gold surges to unprecedented heights, mining stocks are experiencing a bullish wave not witnessed in quite some time.</p>
<p>The <strong>VanEck Gold Miners ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has notched eight positive sessions out of the past nine, surging to peaks last seen in May 2023. </p>
<p><strong>Newmont Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) — the world&#8217;s biggest gold miner and the GDX&#8217;s heavyweight — has surged over 10% this week, showcasing the most robust performance among S&amp;P 500 stocks and its best week in 13 months. </p>
<p><em>Chart: Newmont Notches Top-Performing Week Since March 2023</em></p>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png" alt="" class="wp-image-280143" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h3 class="wp-block-heading"><strong>This Week&#8217;s Top-Performing S&amp;P 500 Stocks</strong></h3>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Company Name</strong></td>
<td><strong>Price Change % (5D)</strong></td>
</tr>
<tr>
<td><strong>Newmont Corporation</strong></td>
<td>10.67%</td>
</tr>
<tr>
<td><strong>Marathon Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>8.99%</td>
</tr>
<tr>
<td><strong>Meta Platforms, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>8.31%</td>
</tr>
<tr>
<td><strong>Valero Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td><strong>NRG Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) </td>
<td>6.97%</td>
</tr>
<tr>
<td><strong>Western Digital Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NYSE">WDC</a>)</td>
<td>6.84%</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
<h3 class="wp-block-heading">This Week&#8217;s Top Performing Gold And Silver Mining Stocks </h3>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Company Name</strong></td>
<td><strong>Price Change % (5D)</strong></td>
</tr>
<tr>
<td><strong>First Majestic Silver Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>32.57%</td>
</tr>
<tr>
<td><strong>Coeur Mining, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>29.18%</td>
</tr>
<tr>
<td><strong>Fortuna Silver Mines Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>)</td>
<td>26.01%</td>
</tr>
<tr>
<td><strong>Calibre Mining Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXB#NYSE">CXB</a>)</td>
<td>18.56%</td>
</tr>
<tr>
<td><strong>Pan American Silver Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>16.55%</td>
</tr>
<tr>
<td><strong>MAG Silver Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>)</td>
<td>14.70%</td>
</tr>
<tr>
<td><strong>Hecla Mining Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>)</td>
<td>14.66%</td>
</tr>
<tr>
<td><strong>Emerald Resources NL</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>)</td>
<td>13.65%</td>
</tr>
<tr>
<td><strong>K92 Mining Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNT#NYSE">KNT</a>)</td>
<td>13.49%</td>
</tr>
<tr>
<td><strong>Aya Gold &amp; Silver Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYA#NYSE">AYA</a>)</td>
<td>12.95%</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
<p><em>Read Now: <a href="https://www.benzinga.com/markets/cannabis/24/04/38102205/desantis-furious-as-legal-weed-abortion-rights-move-toward-november-ballot-calls-amendments-radi">DeSantis Furious As Legal Weed, Abortion Rights Move Toward November Ballot, Calls Amendments &#8216;Radical,&#8217; &#8216;Confusing&#8217; For Voters</a></em></p>


Large Cap

Mid Cap

Econ #s

Federal Reserve

Market Vectors ETF Trust Market Vectors Gold Miners

PAAS

Gold Shines Above $2,300, Ends Another Week At Record High: Mining Stocks Rally To 11-Month Peak

<p>Truist Securities  analyst Neal Dingmann   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Buy and raises the price target from $77 to $84.</p>


Truist Securities Maintains Buy on Occidental Petroleum, Raises Price Target to $84

<p>According to offshore oddsmakers, President Joe Biden's odds to win the 2024 election are at +150, giving him an implied winning probability of just 38.46%.</p>
<p>Pew Research Center found that 73% of Americans said strengthening the economy "should be a top priority for the president and Congress to address this year," the highest priority out of the 20 total options in the survey.</p>
<p>It&#8217;s especially crucial for Biden to address as only around "3 in 10 Americans currently rate economic conditions as excellent or good," according to Pew. It explains Biden's lowest approval rating for any president in March of the last year in their first term in over 44 years, according to Gallup polling data.</p>
<p><strong>Don't Miss:&nbsp;</strong></p>
<ul>
<li><strong>Executives and founders of Uber, Facebook and Apple are bullish on</strong><a href="https://www.benzinga.com/money/aura"><strong> </strong><strong>this wellness app that you can coinvest</strong></a><strong> in at $1.15 per share.</strong></li>
<li><a href="https://www.benzinga.com/money/zette"><strong>Harvard-founded AI startup is solving paywalls, growing 5x yearly and looking for new shareholders</strong></a><strong>.</strong></li>
</ul>
<p>One concern that the Biden administration risks facing is rising oil prices, which have soared to start the year in large part because of geopolitical tensions around the globe as well as supply cuts.</p>
<p>The <strong>United States Oil Fund LP</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks short-term oil futures, is up about 17% to start the year as prices surpass $80 per barrel. Meanwhile, a recent report from Bloomberg citing data from the AAA Automobile Club sees average prices at the pump hitting $4 this summer.</p>
<p>"Nothing terrifies a sitting American president more than a surge in pump prices during an election year," Bob McNally, president of consultancy at Rapidan Energy and former White House energy adviser told Financial Times</p>
<p><strong>Trending: Long overdue disruption in the moving industry is underway.</strong><a href="https://www.benzinga.com/money/muvr"><strong> </strong><strong>Here&#8217;s how to invest in it with just $100</strong></a><strong>.</strong></p>
<p>The Biden administration recently scolded Ukrainian attacks on Russia's energy infrastructure, in part because of concern that the attacks will drive oil prices higher. In addition to Russia's oil being a target of the Ukrainian military, the Russian government has ordered companies to reduce their oil outputs, adding a cap to supply.</p>
<p>Russia's actions to cap supply could lead to $100 per barrel oil prices, according to <strong>JPMorgan Chase &amp; Co.</strong>'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) Global Commodities Research Team.&nbsp;</p>
<p>All the while, the frenzy of deals in the oil-rich Permian basin is set to dim U.S. oil production.&nbsp;</p>
<p>Reuters cites market participants saying that the Permian basin will see the slowest growth in oil production since 2021. The position stems in part from larger public companies tending to focus on returning capital to investors, while the private producers being acquired were generally more willing to boost output.</p>
<p>Warren Buffett backed <strong>Occidental Petroleum Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) CEO Vicki Hollub, who predicted an impending supply issue earlier in the year saying that "in the near term, the markets are not balanced; supply, demand is not balanced,&#8221; and &#8220;2025 and beyond is when the world is going to be short of oil.&#8221;</p>
<p>While Biden has in the past called oil companies "greedy" and "war profiteering," he ironically might need U.S. oil companies to keep drilling to not have oil prices get out of control as election day nears.</p>
<p><strong>Read About </strong><a href="https://www.benzinga.com/alternative-investments/startups"><strong>Startup Investing</strong></a><strong>:</strong></p>
<ul>
<li><strong>Fortnite&#8217;s creator company</strong><a href="https://www.benzinga.com/money/epic-games"><strong> </strong><strong>greenlights partial ownership for up to 100 accredited investors</strong></a><strong> in the upcoming series.</strong></li>
<li><strong>This startup coined &#8220;eBay for gamers&#8221; with a breathtaking track record has opened up</strong><a href="https://www.benzinga.com/money/gameflip-2"><strong> a window to invest in its future growth</strong></a><strong>.</strong></li>
</ul>


Joe Biden's Election Odds At Risk From Rising Oil Prices, Scolds Ukraine For Attacking Russian Oil While US Supply Set To Dip

<p>Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 3 are puts, totaling $156,346, and 16 are calls, amounting to $1,148,494.</p>
<h3>Predicted Price Range</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $52.5 and $75.0 for Occidental Petroleum, spanning the last three months.</p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $52.5 to $75.0 over the preceding 30 days.</p>
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711989934_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$5.2</td>
<td>$5.15</td>
<td>$5.15</td>
<td>$67.50</td>
<td>$255.4K</td>
<td>75</td>
<td>1.0K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.95</td>
<td>$4.7</td>
<td>$4.95</td>
<td>$75.00</td>
<td>$99.0K</td>
<td>2.3K</td>
<td>200</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.12</td>
<td>$1.1</td>
<td>$1.1</td>
<td>$52.50</td>
<td>$88.0K</td>
<td>8.2K</td>
<td>825</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.62</td>
<td>$1.61</td>
<td>$1.62</td>
<td>$67.50</td>
<td>$81.0K</td>
<td>2.7K</td>
<td>3.8K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.59</td>
<td>$1.58</td>
<td>$1.59</td>
<td>$67.50</td>
<td>$79.5K</td>
<td>2.7K</td>
<td>2.3K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>Trading volume stands at 3,089,627, with OXY's price up by 0.4%, positioned at $65.25.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 36 days.</li>
</ul>
<h3>Professional Analyst Ratings for Occidental Petroleum</h3>
<p>A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.5.</p>
<ul>
<li>An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $69. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Occidental Petroleum with a target price of $72. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


A Closer Look at Occidental Petroleum's Options Market Dynamics

<p>Morgan Stanley  analyst Devin McDermott   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Overweight and raises the price target from $66 to $72.</p>


Morgan Stanley Maintains Overweight on Occidental Petroleum, Raises Price Target to $72

<p>High-rolling investors have positioned themselves bullish on Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's important for retail traders to take note.<br />
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.</p>
<p>Today, Benzinga's options scanner spotted 12 options trades for Occidental Petroleum. This is not a typical pattern.</p>
<p>The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $30,500, and 11 calls, totaling $545,663.</p>
<h3>Predicted Price Range</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $70.0 for Occidental Petroleum over the last 3 months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $30.0 to $70.0 in the last 30 days. </p>
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711386947_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$67.50</td>
<td>$121.0K</td>
<td>718</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$40.00</td>
<td>$86.2K</td>
<td>145</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$67.50</td>
<td>$67.0K</td>
<td>2.1K</td>
<td style="text-align: right;">12</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$62.50</td>
<td>$41.1K</td>
<td>10.8K</td>
<td style="text-align: right;">400</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$55.00</td>
<td>$39.6K</td>
<td>1.6K</td>
<td style="text-align: right;">55</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4.0 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of Occidental Petroleum</h3>
<ul>
<li>Trading volume stands at 3,032,836, with OXY's price up by 0.42%, positioned at $64.08.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 43 days.</li>
</ul>
<h3>What The Experts Say On Occidental Petroleum</h3>
<p>In the last month, 1 experts released ratings on this stock with an average target price of $69.0.</p>
<ul>
<li>An analyst from Mizuho persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $69. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


<p>Mizuho  analyst Nitin Kumar   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and raises the price target from $63 to $69.</p>


Mizuho Maintains Neutral on Occidental Petroleum, Raises Price Target to $69

Occidential's CEO Hollub Says First Direct Air Carbon Capture Project Is 70% Complete, First Phase Startup Expected In Mid-2025

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Crude oil prices show little sign of slowing their ascent (and probably won&rsquo;t), meaning it&rsquo;s a great time to consider <a href="https://investorplace.com/industries/energy/">energy stocks</a>. Yeah, it may not align with contemporary politics and ideologies of pushing green solutions. However, the hydrocarbon industry aligns with reality. That&rsquo;s the most important consideration.</p>



<p>On the domestic political front, President Joe Biden is simply not popular. Therefore, I doubt that he can adopt a draconian approach to the hydrocarbon industry. That&rsquo;s one reason why crude oil prices may rise. On the international front, <a href="https://investorplace.com/2024/04/cpi-shocker-why-are-gas-prices-going-up-again/#:~:text=A%20combination%20of%20acute%20catalysts,the%20bulk%20of%20the%20story.">geopolitical flashpoints</a> will likely reduce supplies for western nations. That&rsquo;s coming in a time of heightened demand, which could bode well for energy stocks.</p>



<p>Finally, the fallout in electric vehicle demand suggests that this mobility platform is still too expensive for most Americans. So, hydrocarbons will likely be relevant for longer than expected. Again, it&rsquo;s a great time to consider the below energy stocks.</p>



<h2>Chevron (CVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/cvx-stock-6-300x169.jpg" alt='Chevron (CVX) logo on gas station sign with "diesel" and "food mart" written underneath'><div>Source: Sundry Photography / Shutterstock.com</div></div><p>As an integrated hydrocarbon giant, <strong>Chevron</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/cvx-stock-quote/"><strong>CVX</strong></a>) is one of the most recognizable names among energy stocks. Further, with crude oil prices projected to rise, it&rsquo;s one of the top ideas to add to your portfolio. Analysts rate shares a<a href="https://www.tipranks.com/stocks/cvx/forecast"> consensus strong buy</a> with a $181.87 average price target, implying over 14% upside potential. The high-side target lands at $203.</p>



<p>To be fair, analysts at the moment don&rsquo;t see much happening for the next two years. For fiscal 2024, they&rsquo;re projecting earnings per share to reach $12.05. That&rsquo;s lower than last year&rsquo;s print of $12.22. That said, for fiscal 2025, they&rsquo;re looking at $13.56.</p>



<p>On the top line, covering experts anticipate revenue to hit $183.84 billion. If so, that would mean a loss of 1.7% from last year&rsquo;s tally of $187.07 billion. And in fiscal 2025, sales might reach $183.88 billion, which is just not that remarkable.</p>



<p>However, because of the shifting fundamentals &ndash; particularly the possible fading of relevance of the EV sector &ndash; CVX is worth consideration.</p>



<h2>Occidental Petroleum (OXY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/oxy1600-300x169.png" alt="Person holding cellphone with logo of American company Occidental Petroleum Corp. (OXY) on screen in front of website. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p>Based in Houston, Texas, <strong>Occidental Petroleum</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/oxy-stock-quote/"><strong>OXY</strong></a>) operates under the <a href="https://finance.yahoo.com/quote/OXY/profile">exploration and production segment</a> or the upstream component of the hydrocarbon value chain. It&rsquo;s one of the top energy stocks to buy for diverse exposure to the underlying industry. In addition to its upstream business, it also features a midstream and marketing (downstream) unit.</p>



<p>Presently, Wall Street analysts peg OXY a <a href="https://www.tipranks.com/stocks/oxy/forecast">consensus moderate buy</a>. For full disclosure, the average price target sits at $68.71. That&rsquo;s basically where the price of OXY stock trades now. However, the high-side target calls for $80.</p>



<p>For the current fiscal year, analysts are looking for EPS of $3.66. Admittedly, that&rsquo;s a disappointing projection from last year&rsquo;s print of $3.69. However, it must be stated that the most optimistic target calls for an EPS of $5.39.</p>



<p>On the top line, sales are projected to hit $30.05 billion. That&rsquo;s up 3.9% from last year. Also, with the fundamentals so favorable for energy stocks, the high-side sales target of $32.15 billion isn&rsquo;t unreasonable.</p>



<h2>Kinder Morgan (KMI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/kinder_morgan_kmi_1600-300x169.jpg" alt="Kinder Morgan logo on a sign outside the company headquarters in Houston."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p>One of the top energy stocks listed under the oil and gas midstream sector, <strong>Kinder Morgan</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/kmi-stock-quote/"><strong>KMI</strong></a>) arguably represents a no-brainer investment. While EVs have seen accelerated sales over the past several years, the world continues to run on oil. And that&rsquo;s because most drivers continue to drive combustion-powered vehicles for a variety of reasons. So, midstream services like storage and transportation will likely blossom.</p>



<p>Currently, analysts rate shares a <a href="https://www.tipranks.com/stocks/kmi/forecast">consensus moderate buy</a>. That&rsquo;s not surprising given the fundamental relevance. Also, the average price target comes in at $20, implying over 10% upside potential. I think this might be understated, though the high-side target is $22. That implies over 21% upside, which is more reasonable in my opinion.</p>



<p>For fiscal 2024, covering experts believe EPS will hit $1.22. Notably, that&rsquo;s an improvement over last year&rsquo;s print of $1.06. On the top line, they&rsquo;re looking for sales of $17.72 billion. That&rsquo;s a very solid gain of 16.9% over last year&rsquo;s haul of $15.16 billion. And for fiscal 2025, revenue could fly to $18.38 billion.</p>



<p>Overall, with crude oil prices rising, KMI is a great buy for forward-thinking investors.</p>



<h2>Marathon Petroleum (MPC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/marathon-oil-mro-1600-300x169.jpg" alt="Marathon Oil gas station carport on sunny day with blue sky background"><div>Source: Jonathan Weiss/shutterstock.com</div></div><p>Headquartered in Findlay, Ohio, <strong>Marathon Petroleum</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/mpc-stock-quote/"><strong>MPC</strong></a>) operates under the oil and gas refining and marketing segment. As a downstream specialist, Marathon stands to benefit from a cynical reality. No matter what happens in the economy, people need to move about. Since most transportation and mobility occurs via combustion power, MPC could swing higher. That&rsquo;s really the bullish case for most hydrocarbon energy stocks.</p>



<p>Analysts agree, rating MPC stock a <a href="https://www.tipranks.com/stocks/mpc/forecast">consensus moderate buy</a>. However, shares have already gained 37% on a year-to-date basis. Therefore, the average price target of $196.21 reflects 6% downside risk. In my opinion, that just means the experts need to reassess their targets based on present and projected realities. Notably, though, the high-side estimate calls for a price per share of $249.</p>



<p>For the current fiscal year, analysts are seeking EPS of $17.69. That&rsquo;s low compared to last year&rsquo;s print of $23.63. Even the most optimistic target here calls for $23.45 EPS. And circumstances don&rsquo;t improve on the top line, with projected sales of $138.4 billion implying an 8% decline from last year.</p>



<p>However, the high-side revenue target stands at $160 billion. That might be more reflective of the current paradigm in energy stocks.</p>



<h2>VAALCO Energy (EGY)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/05/social_image_resized.jpg"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/social_image_resized-300x169.jpg" alt="EGY Stock"></a><p>Moving over to the speculative side of investment ideas for rising crude oil prices, <strong>VAALCO Energy</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/egy-stock-quote/"><strong>EGY</strong></a>) is an independent energy firm. It focuses on the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. Given the geopolitical flashpoints and the implied reduction of critical commodity supplies, EGY stock could see significant demand.</p>



<p>To be sure, the market has already responded, with shares up nearly 54% YTD. However, crude prices may continue running up as geopolitical flashpoints and tensions throughout the world show no sign of abating. Therefore, analysts rate EGY a unanimous strong buy with an $8.20 average price target. That implies 17% upside potential. Further, the high-side target calls for $9.07.</p>



<p>For the current fiscal year, experts are anticipating EPS of $1. If so, that would be a significant bump up from last year&rsquo;s EPS of 62 cents. However, the forecasted revenue of $430.27 million would be down 5.4% from 2023&rsquo;s print of $455.07 million.</p>



<p>However, the current realities of energy stocks imply that the high-side target of $484.3 million is within the realm of possibility.</p>



<h2>Transocean (RIG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rig-1600-300x169.jpg" alt="Transocean logo on a laptop screen. RIG stock."><div>Source: Postmodern Studio / Shutterstock</div></div><p>A Switzerland-based enterprise, <strong>Transocean</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/rig-stock-quote/"><strong>RIG</strong></a>) along with its subsidiaries provides offshore contract drilling services for oil and gas wells worldwide. <a href="https://finance.yahoo.com/quote/RIG/profile">Per its public profile</a>, Transocean contracts mobile offshore drilling rigs, related equipment and work crews to drill oil and gas wells. Again, with military conflict likely to crimp supplies of critical commodities, RIG is one of the energy stocks to watch.</p>



<p>To be fair, RIG is also one of the riskiest ideas to exploit rising crude oil prices. Right now, analysts peg shares a consensus hold. Within the assessment among eight experts, there&rsquo;s one sell rating which isn&rsquo;t particularly encouraging. However, the average price target stands at $7.64, which implies growth potential of nearly 24%.</p>



<p>Still, for speculators, Transocean deserves to be on your radar. For fiscal 2024, analysts project a loss per share of four cents, a major improvement over last year&rsquo;s loss of 96 cents. On the revenue front, the company could ring up $3.64 billion, up 28.4% from 2023&rsquo;s result of $3.8 billion. Further, fiscal 2025 sales could hit $4.03 billion, nearly 11% higher than projected 2024 revenue.</p>



<h2>Halliburton (HAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/hal1600a-300x169.jpg" alt="The Halliburton (HAL) logo on the website homepage. HAL stock price prediction."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>Based in Houston, Texas, <strong>Halliburton</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/hal-stock-quote/"><strong>HAL</strong></a>) provides products and services to the energy industry worldwide. It operates through two segments: Completion and Production and Drilling and Evaluation. As an equipment and services specialist, Halliburton offers myriad relevancies to energy stocks overall. So, it stands to be a beneficiary should crude oil prices continue to rise.</p>



<p>What&rsquo;s more, analysts rate shares a <a href="https://www.tipranks.com/stocks/hal/forecast">unanimous strong buy</a>. And that&rsquo;s among 14 experts, which is quite impressive. Overall, the average price target clocks in at $47.36, implying over 19% upside potential. However, the high-side estimate calls for a price per share of $54.</p>



<p>For the current fiscal year, covering experts are looking for EPS to land at $3.41. If so, that would be a notable bump up from last year&rsquo;s EPS of $3.13. For fiscal 2025, the bottom line could expand to earnings of $3.92 per share.</p>



<p>On the top line, revenue might reach $24.27 billion. That would be 5.4% above last year&rsquo;s tally of $23.02 billion. And fiscal 2025 could jump up to $26.12 billion or 7.6% above projected 2024 revenue.</p>



<p><em>On the date of publication, Josh Enomoto</em><em> did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</em><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em><em></em></p>
<div><p>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/7-energy-stocks-poised-to-profit-as-crude-oil-prices-soar/">7 Energy Stocks Poised to Profit as Crude Oil Prices Soar</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

7 Energy Stocks Poised to Profit as Crude Oil Prices Soar

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The global oil and gas market is <a href="https://www.thebusinessresearchcompany.com/report/oil-and-gas-global-market-report">valued at</a> $7.62 trillion and is projected to reach $9.34 trillion in 2028, representing a CAGR of 5.2%. Critical components of this rapid growth include modernization, urbanization and geopolitical tensions spiking oil prices. These oil and gas stocks to buy will set your portfolio up for success now.&nbsp;</p>



<h2>Cenovus Energy (CVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/cve-stock-1-300x169.jpg" alt="The website for Cenovus Energy (CVE) seen through a magnifying glass."><div>Source: Pavel Kapysh / Shutterstock.com</div></div><p><strong>Cenovus Energy </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/cve-stock-quote/"><strong>CVE</strong></a></span>)<strong> </strong>is an oil and natural gas company that operates in crude oil. CVE has shown immense financial growth, demonstrated by its <a href="https://companiesmarketcap.com/cenovus-energy/marketcap/">market cap</a> of $38.58 billion. In addition, <a href="https://seekingalpha.com/symbol/CVE/profitability">return on total assets</a> showed promise at 7.62%, 14.33% more than the sector median. EPS FWD long term growth was impressive at 24% or a colossal 446.60% more than the sector median. These metrics demonstrate CVE&rsquo;s long and short-term profitability while discussing its immense growth prospect.&nbsp;</p>



<p>CVE has announced an investment of $1.5 billion towards oil refineries in Ohio over the next 5 years. This includes expanding projects and improving reliability, translating into a solid public image. It also indicates that CVE is set on expanding operations and has the capital to do it, making it likely that this isn&rsquo;t the only project they will announce in the coming years. Overall, I am fully confident CVE is one of the oil and gas stocks you will want to buy now.</p>



<h2>Diamondback Energy (FANG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/diamondback_fang_stock_fang1600-300x169.jpg" alt="Diamondback Energy (FANG) logo on its website to represent oil stocks. FANG stock"><div>Source: Pavel Kapysh / Shutterstock.com</div></div><p><strong>Diamondback Energy </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/fang-stock-quote/"><strong>FANG</strong></a></span>) is an American-based oil and natural gas company focused on developing natural oil reserves in Texas.</p>



<p>Overall, Diamondback Energy had a <a href="https://finance.yahoo.com/quote/FANG/financials">promising Q4 2023</a>, with ups and downs noted in their latest earnings call. In the past quarter, FANG brought in $2.12 billion in revenue, which equated to a YoY increase of 11.26%. Furthermore, FANG reported $960 million in net income and $5.34 in diluted EPS. Although these figures were net reductions year-over-year (YOY), these metrics outperformed industry forecasts for this quarter by 1.89% for EPS.</p>



<p>The most significant bonus behind FANG&rsquo;s upside is located in its overall industry performance. Especially when comparing their past quarter to other competitors in the oil and gas industry. Looking at <strong>EOG Resources</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/eog-stock-quote/"><strong>EOG</strong></a></span>), EOG lost 6.97% of its Q4 revenue year-over-year. Likewise, <strong>Pioneer Natural Resources</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/pxd-stock-quote/"><strong>PXD</strong></a></span>) reported a revenue this past quarter of a 1.89% loss in profit. With FANG blazing the trail with YOY grosses of 11.26%, expect revenue to surge during an overall down period of the market.</p>



<h2>Occidental Petroleum (OXY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/oxy-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the Occidental Petroleum website."><div>Source: Pavel Kapysh / Shutterstock.com</div></div><p><strong>Occidental Petroleum </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/oxy-stock-quote/"><strong>OXY</strong></a></span>)<strong> </strong>is an American hydrocarbon exploration and petrocarbon manufacturer. OXY stock is a favorite of Warren Buffet, who holds <a href="https://investorplace.com/2024/04/the-3-best-warren-buffett-stocks-to-buy-in-april-2024/">over 25% of the company&rsquo;s stock</a>. OXY is already up <a href="https://seekingalpha.com/symbol/OXY">14.45% YTD</a>, but the legendary investor believes Occidental will experience further growth and continue to return value to shareholders.&nbsp;</p>



<p>His optimism is not unfounded, as the company&rsquo;s latest earnings showed remarkable performance. In <a href="https://finance.yahoo.com/news/occidental-petroleum-corp-oxy-posts-213913693.html">Q4 2023</a>, Occidental reported operating cash flow of $3.2 billion and cash flow from operations before working capital of $2.5 billion. This strong performance is a highly positive sign, enabling management to invest in growth opportunities. Occidental also saw net income reach $1 billion. Furthermore, the company demonstrated its commitment to shareholder value by increasing its quarterly dividend by 22% to 22 cents per share. Overall, Occidental exceeded expectations, a testament to its resilience and operational efficiency.&nbsp;</p>



<p>The most significant catalyst behind Occidental&rsquo;s success was a <a href="https://www.reuters.com/markets/deals/occidental-petroleum-buy-crownrock-12-bln-deal-2023-12-11/">$12 billion deal</a> for Permian basin driller CrownRock. Announced in December, this acquisition significantly expands the company&rsquo;s Permian operations and dramatically increases its share of the U.S. shale market. Management expects CrownRock to strategically bolster the company&rsquo;s performance and provide leverage during oil price downturns. With an impressive cash flow and strategic expansion plans place OXY among oil and gas stocks to buy now.&nbsp;</p>



<p><em>On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>



<p><em>The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.</em></p>
<div><p>Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-oil-gas-stocks-to-buy-now-q2-edition/">3 Oil &amp; Gas Stocks to Buy Now: Q2 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Oil & Gas Stocks to Buy Now: Q2 Edition

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>This year&rsquo;s presidential election is already eliciting strong feelings about the two presumptive nominees. However, if you have money in the market your goal isn&rsquo;t to pick the winner, it&rsquo;s to make money no matter who that winner may be. The election is still over six months away, but by any measure the result is a coin flip. That means you should be considering the policy changes that would affect oil and gas stocks in a GOP administration. &nbsp;</p>



<p>For starters, this would undoubtedly be a fossil fuel-friendly administration. That would take the form of more permitting, reopening of pipelines, and a move towards an energy picture that looks a lot more like 2019 than 2024. &nbsp;</p>



<p>But here&rsquo;s something to consider no matter which party you back. Demand for oil is likely to increase no matter who resides at 1600 Pennsylvania Avenue. Money from the Inflation Reduction Act and the Chips Act continues to flow into the economy. And that means things are getting built, materials are moving around, and all of it requires oil.&nbsp;&nbsp;</p>



<p>That&rsquo;s why analysts are raising their price targets. For example,&nbsp;<strong>Bank of America</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/bac-stock-quote/"><strong>BAC</strong></a></span>) raised its price target for crude oil to $95 a barrel. And if the conflict in the Middle East escalates, that can easily become a ridiculously low target. &nbsp;</p>



<p>The spike in oil and gas stocks hasn&rsquo;t happened as quickly as some analysts believed it would. Still, a higher price seems inevitable. Here are three oil and gas stocks that can help you take advantage of this potentially massive policy shift. &nbsp;</p>



<h2>Schlumberger (SLB)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/schlumberger_slb1600-300x169.jpg" alt="slb stock"><div>Source: Valentin Martynov / Shutterstock.com</div></div><p><strong>Schlumberger</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/slb-stock-quote/"><strong>SLB</strong></a></span>) is an oil services company that is a logical choice for investors who expect that drilling activity will increase. The economics of the oil business shows that for every 10% increase in oil prices, there is a 4% increase in drilling activity. That makes sense because oil companies need oil to get above a certain price before they&rsquo;re willing to start new drilling. &nbsp;</p>



<p>Schlumberger is a leader in <a href="https://investorplace.com/2024/04/the-3-best-oil-gas-stocks-to-buy-in-april-2024/" target="_blank">providing offshore drilling equipment</a> that is less carbon-intensive than traditional onshore drilling. And, <strong>Petrobras</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/pbr-stock-quote/"><strong>PBR</strong></a></span>) <a href="https://www.slb.com/news-and-insights/newsroom/press-release/2024/slb-awarded-three-completion-contracts-for-petrobras%E2%80%99-buzios-field" target="_blank">recently awarded the company three contracts</a> for the hardware and services that will be needed for up to 35 subsea wells as Petrobras develops its offshore Buzios Wave II oilfield. &nbsp;</p>



<p>Plus, Schlumberger has been on an acquisition spree. On March 27, 2024, the company announced its agreement to <a href="https://www.slb.com/news-and-insights/newsroom/press-release/2024/slb-announces-agreement-to-acquire-majority-ownership-in-aker-carbon-capture" target="_blank">acquire majority ownership</a> in Aker Carbon Capture. And on April 2, it announced an <a href="https://www.slb.com/news-and-insights/newsroom/press-release/2024/slb-announces-agreement-to-acquire--championx-in-an-all-stock-transaction" target="_blank">all-stock deal</a> to purchase the energy firm,&nbsp;ChampionX.&nbsp;</p>



<h2>Kinder Morgan (KMI)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/kinder_morgan_kmi_1600-300x169.jpg" alt="Kinder Morgan logo on a sign outside the company headquarters in Houston."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p>To be fair, <strong>Kinder Morgan</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/kmi-stock-quote/"><strong>KMI</strong></a></span>) doesn&rsquo;t necessarily need a change in energy policy to be an attractive buy, but it certainly wouldn&rsquo;t hurt. The midstream company controls a wide network of pipelines and terminals that transport oil and natural gas.&nbsp;</p>



<p>This infrastructure comes with long-term contracts that provide predictable revenue and earnings. But with a company like Kinder Morgan, it&rsquo;s the underlying commodity price that allows it to generate profit and increase cash flow. That&rsquo;s been a struggle for the company in recent years, but that appears to be changing.&nbsp;</p>



<p>And institutional investors seem to agree and continue to buy KMI stock. Analysts are also generally bullish with a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3AKMI&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3AKMI" target="_blank">$20.41 consensus price target</a> for KMI. That gives investors 15% upside in addition to a dividend that yields 6.37% and is due for an increase in coming quarters. &nbsp;</p>



<h2>Occidental Petroleum (OXY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/oxy1600-300x169.png" alt="Person holding cellphone with logo of American company Occidental Petroleum Corp. (OXY) on screen in front of website. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p>If you prefer to buy one of the integrated &ldquo;big oil&rdquo; companies, <strong>Occidental Petroleum </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/oxy-stock-quote/"><strong>OXY</strong></a></span>) is a fine choice. It&rsquo;s been a favorite of Warren Buffett since 2020. In fact, Buffett&rsquo;s hedge fund <strong>Berkshire Hathaway</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/brk.b-stock-quote/"><strong>BRK.B</strong></a></span>) now owns around 25% of the oil giant. &nbsp; &nbsp;</p>



<p>Buffett has consistently remarked that he is pleased with the company&rsquo;s management, and its sustainability efforts. Occidental is positioned to be a leader in carbon capture which some analysts believe could be a $4 trillion industry by 2050. In fact, chief executive officer Vicki Hollub believes the company will eventually generate more profits from carbon management services than from traditional oil and gas. &nbsp;</p>



<p>Occidental&nbsp;is also positioned to reward shareholders. That is noticeable in the company&rsquo;s dividend which was slashed in 2020, but has been growing strongly recently. And with higher oil prices likely to be in play for some time, that dividend will be moving higher. &nbsp;</p>



<p>But Buffett isn&rsquo;t alone. The company has recently received <a href="https://investorplace.com/2024/04/7-analyst-backed-stocks-that-could-have-much-higher-to-climb/" target="_blank">six analyst upgrades</a>, including by <strong>Scotiabank</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/bns-stock-quote/"><strong>BNS</strong></a></span>) which has the highest price target of $90.</p>



<p><em>On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.&nbsp;</em> &nbsp;</p>
<div><p>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-oil-and-gas-stocks-that-will-soar-on-a-gop-win/">Will GOP Retake White House? 3 Top Oil &amp; Gas Picks to Buy for a Fossil Fuel Revival.</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Will GOP Retake White House? 3 Top Oil & Gas Picks to Buy for a Fossil Fuel Revival.

Analysts have been eager to weigh in on the Energy sector with new ratings on Occidental Petroleum (OXY – Research Report), Kinder Morgan (KMI – Re...

Analysts Have Conflicting Sentiments on These Energy Companies: Occidental Petroleum (OXY), Kinder Morgan (KMI) and Liberty Oilfield Services (LBRT)

<strong><i>Geopolitical tensions and a potential disruption in supply are boosting the energy sector's prospects. However, a slowdown in the global economy and a delay in interest rate cuts pose demand concerns for the sector. Let's analyze the investment prospects of Occidental Petroleum (OXY) and Exxon Mobil (XOM)...</i></strong><br><br><p>A potential escalation of geopolitical tensions and fears of a supply shock arising out of OPEC+'s oil supply cuts through the first half of the year, and Russian refinery disruptions following Ukraine's recent drone attacks have boosted crude oil prices lately. However, oil prices are showing signs of softness due to concerns over global demand.</p>
<p>Amid this uncertain backdrop, it could be wise to wait for an opportune entry point in Occidental Petroleum Corporation (<a href="https://stocknews.com/stock/OXY/">OXY</a>) and Exxon Mobil Corporation (<a href="https://stocknews.com/stock/XOM/">XOM</a>). Before diving deeper into the fundamentals of these stocks, let's understand what's leading to the uncertain outlook for oil.</p>
<p>As the war in Gaza continues to wage on, there are fresh tensions between Iran and Israel. Iran launched a missile and drone attack on Israel over the weekend in retaliation for Israel's <a href="https://www.reuters.com/world/middle-east/israel-bombs-iran-embassy-syria-iranian-commanders-among-dead-2024-04-01/">destruction of Iran's consulate in Syria</a>. While Israel has <a href="https://apnews.com/article/mideast-tensions-israel-iran-drone-attack-aec3627b0b19b42dcafc89a7408dc296">vowed to retaliate</a> against Iran, Iran has pledged a <a href="https://www.nbcnews.com/news/world/live-blog/iran-attack-live-updates-rcna148136">tougher response</a> in the event of an Israeli counterattack on its soil.</p>
<p>An escalation in conflicts between the two nations may disrupt crude oil supplies from the region, leading to higher prices. However, investors are betting that international intervention may lead to a de-escalation between the two warring nations. SEB Research commodities analyst Ole Hvalbye said that any new Western sanctions against Iran <a href="https://www.reuters.com/business/energy/oil-inches-up-after-us-reimposes-venezuela-oil-sanctions-2024-04-18/">could be offset</a> by greater output from other oil-producing nations.</p>
<p>Oil prices have been under pressure as U.S. commercial crude oil inventories rose by <a href="https://www.eia.gov/petroleum/supply/weekly/pdf/highlights.pdf">2.7 million barrels to 460 million barrels</a> in the week ending April 12. In addition, China, the world's biggest oil importer, saw its economy grow faster than expected in the first quarter, but other indicators like retail sales, industry output, and property investment showed that domestic demand <a href="https://www.reuters.com/world/china/chinas-q1-gdp-grows-faster-than-expected-policy-support-2024-04-16/">remained muted</a>.</p>
<p>Moreover, uncertainty over when interest rates may be cut is increasing concerns about lower oil demand. The IEA lowered its 2024 oil demand growth forecast by 130,000 barrels per day to <a href="https://www.reuters.com/markets/commodities/iea-trims-oil-demand-forecast-weakness-wealthier-countries-2024-04-12/">1.2 million bpd</a> due to weak OECD consumption and slump factory activity. On the other hand, OPEC forecasts world oil demand to increase by <a href="https://www.reuters.com/business/energy/opec-sees-robust-summer-oil-demand-economic-upside-potential-2024-04-11/">2.25 million bpd in 2024</a> and by 1.85 million bpd in 2025.</p>
<p>Let's examine the fundamentals of the two <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> stocks, beginning with the less favorable one from an investment point of view.</p>
<p><strong>Stock #2: Occidental Petroleum Corporation </strong>(<a href="https://stocknews.com/stock/OXY/"><strong>OXY</strong></a><strong>)</strong></p>
<p>OXY and its subsidiaries engage in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. They operate through three segments: Oil and Gas, Chemical, and Midstream and Marketing.</p>
<p>In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin, OXY's 18.65% is 190.3% higher than the 6.42% industry average. Likewise, its 22.19% trailing-12-month Capex / Sales is 52.8% higher than the industry average of 14.53%. However, the stock's 21.14% trailing-12-month EBIT margin is 5.9% lower than the industry average of 22.48%.</p>
<p>OXY's total revenues and other income for the fourth quarter ended December 31, 2023, declined 9.6% year-over-year to $7.53 billion. Likewise, its total adjusted income attributable to common stockholders and adjusted EPS fell 55.6% and 54% over the prior-year quarter to $710 million and $0.74, respectively.</p>
<p>However, as of December 31, 2023, the stock's total assets stood at $74 billion compared to $72.61 billion as of December 31, 2022.</p>
<p>Street expects OXY's revenue for the quarter ending June 30, 2024, to increase 2.3% year-over-year to $6.89 billion. Its EPS for the quarter ended March 31, 2024, is expected to decrease 44.4% year-over-year to $0.61. Over the past six months, the stock has gained marginally to close the last trading session at $65.98.</p>
<p>OXY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect an uncertain outlook. It has an overall rating of C, equating to a Neutral in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.</p>
<p>It is ranked #68 out of 82 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry. It has a C grade for Momentum, Stability, and Quality. <a href="https://stocknews.com/stock/OXY/">Click here</a> to see the other ratings of OXY for Growth, Value, and Sentiment.</p>
<p><strong>Stock #1: Exxon Mobil Corporation </strong>(<a href="https://stocknews.com/stock/XOM/"><strong>XOM</strong></a><strong>)</strong></p>
<p>XOM engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments.</p>
<p>On April 12, 2024, XOM finalized plans for the Whiptail development offshore Guyana, expecting to increase daily oil capacity by 250,000 barrels by 2027, with a $12.7 billion investment in Guyana's economy.</p>
<p>In terms of the trailing-12-month levered FCF margin, XOM's 7.62% is 18.6% higher than the 6.42% industry average. Likewise, its 12.42% trailing-12-month Return on Total Capital is 47.9% higher than the industry average of 8.40%. On the other hand, the stock's 6.48% trailing-12-month Capex / Sales is 55.4% lower than the industry average of 14.53%.</p>
<p>For the fiscal fourth quarter ended December 31, 2023, XOM's total revenues and other income decreased 11.6% year-over-year to $84.34 billion. Its non-GAAP earnings, excluding identified items, fell 32.3% over the prior-year quarter to $9.52 billion. Also, its non-GAAP earnings, excluding identified items per common share, stood at $2.48, representing a decline of 27.1% year-over-year.</p>
<p>On the other hand, as of December 31, 2023, the stock's total assets stood at $376.32 billion compared to $369.07 billion as of December 31, 2022.</p>
<p>Analysts expect XOM's EPS for the quarter ending June 30, 2024, to increase 22.9% year-over-year to $2.38. Its revenue for the quarter ended March 31, 2024, is expected to decrease 6.6% year-over-year to $80.88 billion. XOM's stock has gained 18.7% year-to-date to close the last trading session at $118.63.</p>
<p>XOM's bleak prospects are reflected in its POWR Ratings. It has an overall rating of C, equating to a Neutral in our proprietary rating system.</p>
<p>It has a C grade for Growth, Stability, and Sentiment. It is ranked #34 in the same industry. To see XOM's Value, Momentum, and Quality ratings, <a href="https://stocknews.com/stock/XOM/">click here</a>.</p>
<p><em><strong>What To Do Next?</strong></em></p>
<p>Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "<em>death trap</em>" stocks are lurking in your portfolio:</p>
<p><a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell"><strong>10 Stocks to SELL NOW! &gt;</strong></a></p>

<hr />
<p>XOM shares were trading at $118.74 per share on Thursday afternoon, up $0.11 (+0.09%). Year-to-date, XOM has gained 19.87%, versus a 6.07% rise in the benchmark S&amp;P 500 index during the same period.</p>
<hr><div style="clear:both;"></div><br><h2>About the Author: Abhishek Bhuyan</h2><br><img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;"><p>Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.</p><p><a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a></p>The post <strong><a href=https://stocknews.com/news/xom-oxy-are-oxy-and-xom-ready-to-fuel-up-investors-returns/>Are OXY and XOM Ready to Fuel Up Investors' Returns in 2024?</a></strong> appeared first on <strong><a href=https://stocknews.com/>StockNews.com</a></strong>

Are OXY and XOM Ready to Fuel Up Investors' Returns in 2024?

Oil prices have raced higher, propelling energy stocks and ETFs. Options abound, so which is the better energy ETF for investors — the Fidelity MSC...

FENY vs. IYE: Which Is the Better Energy ETF?

Occidental: Decades Of Growth Ahead

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Is the rally crude oil about to stall out? After several months of consistent oil price advances, the price of oil has dipped over the past week.</p>



<p>It seems some traders are using the tensions in the Middle East as a &ldquo;sell the news&rdquo; event. Particularly if there is de-escalation between Iran and Israel, we might see oil prices retreat at least over the medium term. Broader macroeconomic signs also point to a potential <a href="https://www.barrons.com/articles/oil-crude-brent-wti-prices-3271dde9">sell-off</a>, especially with interest rates climbing once again.</p>



<p>That could make it a great time to book trading gains in certain <a href="https://investorplace.com/industries/energy/">energy stocks</a> before market momentum fully reverses. While much of the sector still has strong fundamentals today, other names are on a shakier footing for the time being. Here are three energy stocks to consider selling right now.</p>



<h2>TechnipFMC (FTI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/fti-stock-1-300x169.jpg" alt="Stocks to buy FTI Stock: The Technip logo on the side of a building"><div>Source: abu emran / Shutterstock.com</div></div><p><strong>TechnipFMC</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/fti-stock-quote/"><strong>FTI</strong></a>) is an energy solutions company focused on <a href="https://www.technipfmc.com/en/what-we-do/subsea/">subsea operations</a>. Deepwater drilling has come back to life after several brutal years for the sector. This is because offshore drilling tends to have higher production costs, as opposed to shale or traditional oil fields. Given the higher cost structure, offshore oil production tends to follow more of a boom-and-bust cycle. </p>



<p>There&rsquo;s been something of a boom recently with some companies hitting major new fields in places like <a href="https://worldoil.com/magazine/2023/july-2023/features/regional-report-guyana-suriname/">Guyana and Suriname</a>. However, optimism may be getting overdone for the FTI stock. Shares are up nearly 90% over the last year, with much of that move coming just since February. </p>



<p>That seems like it may be a bit excessive, given that the company was barely profitable last year. Shares also trade a large premium to their book value. This suggests that if oil prices stall out, shares could be in for a major corrective pull back.</p>



<h2>Texas Pacific Land (TPL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/oil1600-300x169.png" alt="In the field, the oil pump in the evening, the evening silhouette of the pumping unit, the silhouette of the oil pump. Oil stocks and energy stocks"><div>Source: zhengzaishuru / Shutterstock.com</div></div><p>Unlike most companies categorized as energy stocks, <strong>Texas Pacific Land</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/tpl-stock-quote/"><strong>TPL</strong></a></span>) is not a traditional oil or gas producer. Rather, the company&rsquo;s primary asset is <a href="https://www.texaspacific.com/">a large land holding</a> in the Permian region of Texas. It earns royalties from goods that are produced on its land, such as petroleum.</p>



<p>TPL stock ran up tremendously in past years as investors discovered this unique way to play the shale boom. Undoubtedly, the value of the company&rsquo;s land appreciated enormously as oil production soared in the region.</p>



<p>However, with the stock up more than double since 2020, it&rsquo;s fair to argue that shares may be overvalued at around 33 times forward earnings. Adding to that, there&rsquo;s been significant corporate <a href="https://specialsituationinvesting.substack.com/p/tpls-governance-battle">infighting</a>, as management converted the company from a royalty trust to an operating company, which allowed it to make controversial changes in management compensation and other matters. </p>



<p>Texas Pacific Land continue to generate <a href="https://finance.yahoo.com/news/texas-pacific-land-full-2023-120636764.html">significant profits</a> from its land holdings. However, the combination of the large increase in the share price and questions around the company&rsquo;s strategic direction are causes for concern. A decline in oil prices could have Texas Pacific Land shares set for a significant decline.</p>



<h2>Occidental Petroleum (OXY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/oxy1600-300x169.png" alt="Person holding cellphone with logo of American company Occidental Petroleum Corp. (OXY) on screen in front of website. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p>Trading at 17 times trailing earnings, <strong>Occidental Petroleum</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/oxy-stock-quote/"><strong>OXY</strong></a>) has a fairly high P/E ratio compared to most other large oil and gas operators.</p>



<p>The firm&rsquo;s premium valuation can likely be attributed to the fact that Warren Buffett&rsquo;s <strong>Berkshire Hathaway</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/brk-b-stock-quote/"><strong>BRK-B</strong></a></span>) owns <a href="https://www.reuters.com/markets/deals/berkshire-hathaway-boosts-stake-occidental-petroleum-about-28-2023-12-22/">a large stake</a> in the company. Berkshire appears to be making a bet on carbon capture technology, as that&rsquo;s one place where Occidental has <a href="https://www.oxy.com/">invested heavily</a> in recent years. That makes sense from Berkshire&rsquo;s perspective, as Buffett&rsquo;s company has considerable holdings in power utilities, railroads and other industries, all of  which produce a lot of pollution.</p>



<p>If Occidental&rsquo;s carbon capture technology proves to be commercially viable at a large scale and takes off, it could be a boon to Berkshire Hathaway in terms of helping it reach its ESG goals. However, according to a <em>Bloomberg Green</em> <a href="https://www.bloomberg.com/news/features/2023-10-23/occidental-quietly-ditched-world-s-biggest-carbon-capture-plant">investigation</a>, Occidental&rsquo;s first attempts at carbon capture have fallen well short of intended targets and the technology may face more growing pains before becoming a commercial success.</p>



<p>While Berkshire&rsquo;s Hathaway&rsquo;s bet on this technology makes sense within the basis of its broader portfolio, individual energy stock investors may not want to follow Buffett&rsquo;s lead here. OXY stock is arguably significantly more expensive and riskier than many of its large oil peers.</p>



<p><em>On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-energy-stocks-to-sell-before-oil-prices-stall/">3 Energy Stocks to Sell Before Oil Prices Stall</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Energy Stocks to Sell Before Oil Prices Stall

Canadian Natural: Resilience And Returns Through The Cycle

Occidental Stock Is Still Quite Undervalued

LBRT

Press Releases

Occidental and BlackRock Form Joint Venture to Develop STRATOS, the World's Largest Direct Air Capture Plant

Occidental to Acquire CrownRock, Strengthening its U.S. Onshore Portfolio with Premier Permian Basin Assets

Opinion

Thinking about trading options or stock in Tesla, Block, AT&T, Occidental Petroleum, or Annaly Capital Management?

1PointFive and Boston Consulting Group Announce Strategic Agreement for Direct Air Capture Carbon Removal Credits

Occidental to Announce Fourth Quarter Results Wednesday, February 14, 2024; Hold Conference Call Thursday, February 15, 2024

Contracts

1PointFive and Trafigura Announce Direct Air Capture Carbon Removal Credit Agreement

Dividends

Occidental Increases Dividend

Earnings

Occidental Announces Fourth Quarter 2023 Results

1PointFive and AT&T Announce Direct Air Capture Carbon Removal Agreement

Occidental to Announce First Quarter Results Tuesday, May 7, 2024; Hold Conference Call Wednesday, May 8, 2024

TSLA

Chevron

Ecopetrol S.A. American Depositary Shares

Ecopetrol

Equinor

Petroleo Brasileiro S.A.- Petrobras Common Stock

Petrobras Brasileiro

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares

Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares)