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- What Are The Best Oil Stocks To Buy?
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The oil market can be very confusing to both experienced and new investors with its constant price changes. However, because it’s a good means to diversify an investment portfolio, investors look for the best oil stocks to buy or invest in.
More so, the economic meltdown of 2022 caused by the pandemic, led to a decrease in the demand rate, and a lot of oil firms were greatly affected. This caused a lot of investors to search for low-risk, high-reward stocks to invest in. And some oil stocks top the chart.
Oil and gas still account for 69% of U.S. energy consumption, so it’s important to do thorough research on the oil stock you want to invest in.
Nonetheless, here are the best stocks to buy in the US market as of December 2022.
What Are The Best Oil Stocks To Buy?
Investing in oil stocks is a good way to diversify your investment portfolio. Although it comes with risks, there is still some safe oil stock that can yield a return for your money.
So, if you want to know the best stocks to invest in with fast earnings, take a look at them below.
#1. Exxon Mobil
Exxon Mobil is one of the world’s largest publicly traded energy providers and chemical manufacturers. They develop and apply next-generation technologies to help responsibly meet the world’s growing needs for energy and high-quality chemical products.
Over the years, Exxon Mobil has evolved from a regional marketer of kerosene to an advanced energy and chemical innovator, and one of the largest publicly-traded companies in the world.
The Exxon Mobil stock is traded in the NASDAQ stock exchange market as (XOM) at $38.99 +0.49 (1.27%). The stock previously closed at $38.50 with a market cap of $165 billion and a PE ratio (TTM) of 50.28.
While releasing the fourth quarter dividend for the year 2021, the Board of Directors of Exxon Mobil declared a cash dividend of $0.87 cents per share on the Common Stock, payable on December 10, 2021.
To protect its payout, the company is cutting spending and jobs. Exxon had already cut investment by $10 billion so far this year.
Total is a French multinational oil and gas company. It is known as one of the seven “Supermajor” oil companies in the world. The company focuses on the oil and gas chain.
From crude oil and natural gas exploration to production, power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading.
Total is also a large-scale chemical manufacturer with its head office in the Tour Total in La Défense district in Courbevoie, west of Paris. The company is responsible for 0.95% of global industrial greenhouse gas emissions from 1988 to 2015.
The Total Stock is traded as (TOTAL SE) on the Euro Stoxx 50 stock market index and the New York Stock Exchange market.
TOTAL SE goes at $43.82 +0.39 (+0.90%) in the New York market and €36.71 +0.38 (1.05%) in the Paris market. It also has a quarterly dividend pay of 0.66 €/share.
TOTAL SE closed at € 36.710 in Paris with a share volume of 7,736,394.
While in the New York market, TOTAL SE has a closing price of $43.43, a market cap of $115.027 billion, and a volume of 2,626,466. It also has a dividend yield of 3.08 (7.32%).
#3. Royal Dutch Shell
Royal Dutch Shell is a global group of energy and petrochemical companies that aims to meet the world’s growing need for more and cleaner energy solutions.
Shell has two categories of stocks – A shares, and B shares which are both traded in New York (NYSE), London(LSE), and Euronext Amsterdam as (RDS-A) and (RDS-B).
RDS-A goes at $36.39 +1.33 (+3.79%), 1,350.20GBX(-0.27%), and €15.08(-0.34%) in New York, London, and Euronext Amsterdam Stock exchange markets respectively.
In NYSE, RDS-A closed at $36.39 with a volume of 6,286,185 and a market cap of $139 billion.
In LSE, RDS-A closed at 1,353.80GBX with a volume of 758,050 and a market cap of £ 55,522.58 million.
While in Euronext Amsterdam, RDS-A closed at €15.13 with a volume of 2,338,440 and a market cap of €115.035 billion.
RDS-B goes at $34.65 +0.95 (+2.82%), 1,299.00GBX -10.80(-0.82%), and €14.39 -0.06(-0.42%) on the New York, London, and Euronext Amsterdam Stock Exchange.
In NYSE, RDS-B closed at $33.70 with a volume of 2,952,608 and a market cap of $139.667 billion.
In LSE, RDS-B closed at 1,309.80GBX with a volume of 731,603 and a market cap of £ 48,543.60 million.
While in Euronext Amsterdam, RDS-B closed at €14.446 with a volume of 20,360 and a market cap of € 53.441 billion.
The Board of Royal Dutch Shell plc. announced an interim dividend in respect of the third quarter of 2021 of US$ 0.1665 per A ordinary share (“A Share”) and B ordinary share (“B Share”).
Cash dividends on A Shares will be paid, by default, in euros, although holders of A Shares will be able to elect to receive dividends in US dollars or pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds sterling, although holders of B Shares will be able to elect to receive dividends in US dollars or euros.
The pound sterling and Euro equivalent dividend payments will be announced on December 3, 2021.
Chevron is another one of the oil and energy companies in the world that aim to provide reliable, affordable, and cleaner energy.
The company’s stock is another top high-yield oil stock to buy amid the oil market chaos. It trades on the New York Stock Exchange as (NYSE: CVX) at $89.87+2.42 (+2.77%) with a volume of 1,018.
CVX previously closed at $87.45, exceeding Exxon Mobil’s dominance with a market cap of $173.001 billion.
Chevron management cut its 2021 capital spending by 48% and it’s operating expenses by 12%. It also suspended its stock buyback program to ensure its 6.1% dividend remains untouched. And acquired Noble Energy in October 2021.
Additionally, On October 28, 2021, Chevron Corporation declared a quarterly dividend of ($1.29) per share, payable December 10, 2021.
#5. Teekay Tankers Ltd.
Teekay Tankers Ltd. is a marine service and oil company that provides oil and energy transportation through its fleet of mid-sized tankers. This makes them a very vital link in the global energy supply chain.
They are employed in spot tanker market trading, through short-term or medium-term fixed-rate contracts.
Teekay Tankers stock trades on the New York Stock Exchange as (TNK). TNK goes at $11.52 +0.29 (+2.58%) with a volume of 408,526.
Additionally, the stock previously closed at $11.23 with a market cap of $388.224 million.
On November 13, 2021, Teekay Tankers released its third-quarter 2021 earnings results and it showed the heavy impact of the coronavirus on oil supply.
#6. Hoegh LNG
Höegh LNG is an integrated LNG infrastructure company offering LNG transportation services, LNG re-gasification, terminal solutions, and in-house ship management services around the world. The company is comprised of Höegh LNG Holdings and Höegh LNG Partners.
Höegh LNG has headquarters in Norway, and a presence in Singapore, the USA, the UK, Indonesia, to mention a few.
Höegh LNG Holdings Ltd. is listed on the Oslo stock exchange as (HLNG), while Höegh LNG Partners LP, is listed on the New York Stock Exchange as (HMLP).
HLNG trades at 13.76NOK -0.14 (-1.01%) with a volume of 4,192. It has one of the highest earnings per share. This shows that the company’s business is growing and is generating more money than it can reinvest or return to shareholders.
Additionally, the stock has a previous closing price of NOK13.90 with a market cap of NOK 1,049.22B.
#7. TORM PLC
TORM is a Danish petroleum product transport company. It is one of the carriers of refined oil products such as gasoline, jet fuel, naphtha, and diesel oil. It operates a fleet of tankers with varying sizes from 35,000-114,000 dwt.
TORM has a dual listing on Nasdaq Copenhagen and NASDAQ in New York as TRMD. The stock trades at $7.41 +0.11 (+1.51%), with a volume of 24,447.
Additionally, TRMD previously closed at $7.30 with a market cap of $538.815M
On November 11, 2021, TORM PLC announced its third-quarter 2021 results where they declared an ordinary dividend of USD 63.2m, equivalent to USD 0.85 per share.
Payment is expected on 10 September 2021 to shareholders of record on 27 August 2021, with the ex-dividend date on 26 August 2021.
ConocoPhillips is one of the world’s largest independent E&P companies based on production and proved reserves.
The company is committed to the efficient and effective exploration and production of oil and natural gas through its innovative and collaborative efforts.
Thus, the recent acquisition of Concho Resources will place it as the largest Permian basin producer.
ConocoPhillips common stock is listed on the New York Stock Exchange as (COP) and trades at $39.97 +0.70 (+1.78%) with a volume of 12,459,037.
Additionally, COP has a previous closing price of $39.27 and a market cap of $42.688 billion. The stock has a payable cash dividend of $0.43 per share.
With the acquisition of Concho Resources, the market cap is expected to increase by $10.9 billion.
#9. Talos Energy
Talos Energy is an independent offshore energy company focused on oil and gas exploration and production in the United States Gulf of Mexico and offshore Mexico.
The company uses its years of experience in offshore basins, and a balanced emphasis on new exploration, development, and asset optimization to safely and responsibly develop energy resources.
The Talos Energy stock trades in the New York Stock Exchange as (TALO) at $8.80 +0.22 (+2.56%) with a volume of 683,266.
TALO previously closed at $8.58 with a market cap of $642.664 million. As a result of its low PE ratio, TALO makes the list as one of the best oil stocks to buy.
#10. EOG Resources
EOG Resources is one of the largest oil producers in South Texas, also known for hydrocarbon exploration. With headquarters in Houston, Texas, EOG Resources are known to use high-tech and big data to aid its drilling operations.
The company’s stock trades as (EOG) on the New York Stock exchange at $47.82+1.29 (+2.77%) with a volume of 9,323,479.
Additionally, EOG previously closed at $46.53 and has a market cap of $27.897 billion. As of the end of the year 2019, EOG Resources increased the dividend rate to 31%.
They also generated $1.9 billion of free cash flow that funded $588 million in dividends and the retirement of $900 million of debt.
#11. Canacol Energy
Canacol Energy is an independent onshore conventional natural gas exploration and production company in Colombia.
As a matter of fact, the company is responsible for supplying about 20% of the country’s gas needs and is based in Canada.
The corporation’s stocks are traded on the Toronto Stock Exchange as CNE, the OTCQX in the United States of America as CNNEF, the Bolsa de Valores de Colombia as CNEC, and the Bolsa Mexicana de Valores as CNEN.
In the Toronto Stock Exchange, the stock (CNE) trades at CAD 4.01 +0.02 (+0.5013%), with a volume of 2,525, and a market cap of CAD 721.239 million.
In the OTCQX, the stock (CNNEF) trades at $3.1100 -0.0500 (-1.58%) with a volume of 512 and a market cap of $552.317 million.
While in the Bolsa de Valores de Colombia, the stock (CNEC) trades at 10,960.00 COP -240.00 -2.14% with a volume of 46,220, and a market cap of 1.971T.
On September 20, 2022, Canacol energy declared three dividend payments of $0.052 per share.
So, you can say that the stock is a low-risk, high reward stock. And this makes it one of the best oil stocks to buy.
#12. Diamondback Energy
Another oil stock on my list of best oil stocks to buy is the Diamondback Energy stock. Diamondback is an independent oil and natural gas company with headquarters in Midland, Texas.
The company focuses on the acquisition, development, and exploration of onshore oil and natural gas reserves in the Permian Basin in West Texas.
Diamondback Energy’s stock trades on the NasdaqGS as FANG at $41.57 +1.05 (+2.59%) with a volume of 553,294.
Additionally, the stock previously closed at $40.52 and has a market cap of $6.524 billion.
On November 2, 2021, Diamondback Energy announced its third-quarter 2021 fiscal reports where they declared a cash dividend of $0.375 per share payable on November 19, 2021.
#13. Parsley Energy Inc.
Parsley Energy is an independent oil and natural gas company that focuses on the most prolific portions of the Permian Basin which is one of the most resource-rich oil basins in the world.
Due to their commitment to best practices, they use the latest technology to ease drilling processes. Technological innovation enables the industry to increase precision, detect and address concerns faster, and decrease production timelines.
Parsley Energy’s common stock trades on the New York Stock Exchange as (PE) at $12.99 +0.38 (+3.01%) with a volume of 703,165.
The stock’s previous closing price is at $12.61 and has a market cap of $5.359 billion.
On October 28, 2021, Parsley Energy Inc. announced its third-quarter 2021 financial results where it declared paying a quarterly dividend of $0.05 per share on September 18, 2021.
They also declared a 4Q20 quarterly dividend of $0.05 per share payable on December 18, 2021.
#14. Renewable Energy Group inc.
Renewable Energy Group Inc. is a global producer and supplier of renewable fuels like biodiesel, renewable diesel, chemicals, and other products.
The company is transforming biofuel into something that helps improve the environment and grow customers’ profits.
Also, their solutions have become better options for petroleum diesel because they produce significantly lower carbon emissions.
Renewable Energy Group’s common stock trades on the Nasdaq Global Select as (REGI) at $59.75 +0.09 (+0.15%) with a volume of 222,260.
The closing price for this stock is $59.66, with a market cap of $2.35 billion.
#15. Whiting Petroleum Corp.
Rounding up this list of best oil stocks to buy is the Whiting Petroleum Corp Stock. Whiting Petroleum Corp is an independent oil and gas exploration company.
The company focuses on exploring, and producing a variety of petroleum products through its positions in the Bakken/Three Forks resource play in North Dakota and Montana.
The company stock trades as (WLL) on the New York Stock Exchange at $24.17 +1.06 (+4.59%) with a volume of 682,050.
Additionally, WLL has a market cap of $919.698 million and previously closed at $23.11.
Here are the best oil stocks to buy at a quick glance.
Best Oil Stocks To Buy
|Oil Stocks||Price||Change||Volume||Market Cap|
|Exxon Mobil (XOM)||$38.89||+0.49(1.27%)||25,289,154||$165 billion|
|Total (TOTAL SE)||$43.82||+0.39 (+0.90%)||2,626,466||$115.027 billion|
|Royal Dutch Shell|
|Chevron (CVX)||$89.87||+2.42 (+2.77%)||1,018||$173.001 billion|
|Teekay Tankers Ltd (TNK)||$11.52||+0.29 (+2.58%)||408,526||$388.224 million|
|Höegh LNG (HLNG)||13.76NOK||-0.14 (-1.01%)||4,192||NOK 1,049.22billion|
|TORM Plc. (TRMD)||$7.41||+0.11 (+1.51%)||24,447||$538.815 million|
|ConocoPhillips (COP)||$39.97||+0.70 (+1.78%)||12,459,037||$42.688 billion|
|Talos Energy (TALO)||$8.80||+0.22 (+2.56%)||683,266||$642.664 million|
|EOG Resources (EOG)||$47.82||+1.29 (+2.77%)||9,323,479||$27.897 billion|
|Canacol Energy(CNNEF)||$3.1100||-0.0500 (-1.58%)||512||$552.317 million|
|Diamondback Energy (FANG)||$41.57 +1.05 (+2.59%)||$41.57 +1.05 (+2.59%)||553,294||$6.524 billion|
|Parsley Energy (PE)||$12.99||+0.38 (+3.01%)||703,165||$5.359 billion|
|Renewable Energy Group Inc. (REGI)||$59.75||+0.09 (+0.15%)||222,260||$2.35 billion|
|Whiting Petroleum Corp (WLL)||$24.17||+1.06 (+4.59%)||682,050||$919.698 million|