Iran struck several ships in the Strait of Hormuz over the past day. Its new Ayatollah said the Strait will remained closed, in an effort to pressure the U.S. But President Trump seemed to take the threat in stride, noting the elimination of Iran's nuclear capabilities is the bigger concern than oil prices.
Warren Buffett bet big on this popular oil stock.
Occidental Petroleum Corp (NYSE: OXY) shares are trading higher Thursday afternoon as energy stocks gain on renewed fears of supply disruption in the Middle East after multiple oil tankers were hit by explosions and Iran's new Supreme Leader said the Strait of Hormuz should remain closed to "pressure the enemy."
Occidental Petroleum (NYSE:OXY) has been on a tear with shares up a 35% year-to-date.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
In the midst of a chaotic political environment in 2026, Occidental Petroleum ( NYSE:OXY ) has surged 32.86% year-to-date and 20.36% over the past month, with retail sentiment on Reddit climbing from a quarterly average of 73.2 (bullish) to a weekly average of 81.125 (very bullish).
A year ago, the question was whether Warren Buffett's conviction in Occidental Petroleum (NYSE: OXY) was reason enough to buy the stock.
Occidental Petroleum is downgraded to Buy after a recent ~30% rally, reflecting a less favorable risk-reward. OXY's balance sheet is improving following the debt reductions post-OxyChem sale, enhancing flexibility and lowering interest costs. As a result, the dividend increased 8% to $0.26/share, but the yield remains modest at ~2% with a payout ratio below 25%.
Oil and gas stocks are in focus to start the week, as the U.S.-Israel attack on Iran sends black gold soaring.
Occidental CEO Vicki Hollub said on Tuesday that crude oil prices need to rise to $70 per barrel in order for the oil industry to grow production.
Occidental (OXY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Warren Buffett-backed Occidental Petroleum (NYSE: OXY) saw its shares fly 9% higher in the last 24 hours as the equity rose to its February 20 press time price of $51.51.