Occidental Petroleum Corp (OXY) is expected to raise its dividend next quarter, potentially reaching $1.00 per share with a yield of 2.42%. The stock is currently trading at $41.34, with analysts projecting a potential price target of $50.00 per share, indicating a 21% upside. Analysts agree that OXY stock is undervalued, with price targets ranging from $49.64 to $51.72 per share, suggesting a significant upside potential. Selling short out-of-the-money put options on OXY stock is one strategy to take advantage of its undervaluation and generate income while waiting for potential price increases.

Read more at Barchart: Occidental Petroleum Could Hike Its Dividend