With an average upside potential of 32.60% according to Wall Street analysts, Occidental Petroleum Corporation (NYSE:OXY) is included among the 10 Most Promising Energy Stocks to Buy Now.

Occidental Petroleum Corporation (NYSE:OXY) is an international energy company that produces, markets, and transports oil and natural gas.

On June 29, Morgan Stanley trimmed its price estimate on Occidental Petroleum Corporation (NYSE:OXY) from $74 to $68, but maintained an 'Equal Weight' rating on the shares. The lowered target still reflects an upside of over 39% from the current price level.

The analyst firm revised its estimates to reflect the recent changes in global energy prices. The WTI crude oil price has declined by over 60% from its recent multi-year high and is now hovering close to its pre-war levels following the US-Iran memorandum of understanding on June 14.

Occidental Petroleum Corporation (NYSE:OXY) recently adjusted the midpoint of its full-year 2026 production guidance to 1.44 million BOE per day. It also reaffirmed its capital guidance range of $5.5 billion to $5.9 billion for the year. Occidental's principal debt stood at $13.3 billion at the end of the first quarter, and the company has a near-term target to reduce this figure to $10 billion.

While we acknowledge the potential of OXY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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