Susquehanna Remains Bullish on Occidental Petroleum (OXY) Amid Strong Earnings and Production Momentum

With significant hedge fund interest, Occidental Petroleum Corporation (NYSE:OXY) secures a spot on our list of the 12 best commodity stocks to buy right now.

On November 13, 2025, Occidental Petroleum Corporation (NYSE:OXY) saw Susquehanna reiterate its “Buy” rating and raise its price target to $55 from $54. The firm noted that the company exceeded Q3 expectations on both EPS and production, driven by strong performance in domestic business.

Meanwhile, the company released its Q3 2025 earnings on November 10, 2025. The quarter saw operational execution exceed expectations, helping Occidental Petroleum Corporation (NYSE:OXY) record production of 1.47 million barrels of oil equivalent per day, driven by record Permian output and improved uptime in the Gulf of America.

Furthermore, Occidental Petroleum Corporation (NYSE:OXY) recorded $3.2 billion in operating cash flow and $1.5 billion in free cash flow, thanks to record Permian production of 800,000 BOE per day. At the same time, the company reduced its lease operating expenses to $8.11 per BOE, the lowest level since 2021. Having repaid $1.3 billion of debt during the quarter, the company expects to bring it below $15 billion post-OxyChem sale. Moreover, the company recorded $2.2 billion in shareholder returns through dividends and buybacks.

During the quarter, Occidental Petroleum Corporation (NYSE:OXY) expanded its Permian resource base by 2.5 billion BOE, which now represents 70% of total resources. On the other hand, OxyChem pre-tax income fell short of guidance due to global chlorovinyl softness. Yet the company looks ahead with confidence, citing enhanced oil recovery, CO2 injection pilots, and Gulf of America waterflood projects as key growth drivers. The company reported adjusted earnings per diluted share of $0.64. The quarterly revenue came in at $6.72 billion, up from $6.50 billion in the prior quarter.

Occidental Petroleum Corporation (NYSE:OXY) is focused on exploration, development, and production of oil and gas globally.

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.

READ NEXT: 10 Best Small-Cap Biotech Stocks to Buy According to Analysts and 11 Best AI Infrastructure Stocks to Buy Right Now.

Disclosure: None.