STORY: "Investors seem to be somewhat ignoring energy [stocks] right now," said Krawez, who nevertheless views Occidental Petroleum as a "reasonably priced stock" with "very important U.S. assets."

Those U.S. oil reserves "could become very strategic if you see heightened risk, particularly in the Middle East or with the Russia-Ukraine situation," he said.

Krawez added that Occidental may also benefit from an incoming Trump administration that seeks to loosen oil drilling regulations in the U.S.