Check Out These 4 Top Natural Gas Stocks In The Stock Market Today
If you’re looking for an investment in the stock market that will give you exposure to the natural gas industry, then natural gas stocks may be a good option. For the uninitiated, Natural gas is a vital commodity used in a variety of industries, including power generation, heating, and manufacturing. And as the world moves to cleaner energy sources, demand for natural gas is expected to grow.
Despite the downturn in the economy, natural gas stocks have held their value quite well in recent years. This is evident with natural gas stocks such as Royal Dutch Shell (NYSE: RDS.A) and Antero Resources Corporation (NYSE: AR). Both companies have seen their share price increase year-to-date by 19.07% and 113.76%, respectively. While the natural gas industry is not immune to market fluctuations, it has proven to be relatively stable in turbulent times. Moreover, natural gas is a increasingly popular energy source, due in part to its relatively low emissions. As more and more countries commit to reducing their carbon footprint, demand for natural gas is expected to rise. For these reasons, I’m not surprised investors are turning their attention to natural gas stocks in the stock market today.
Natural Gas Stocks To Watch Today
- Occidental Petroleum Corporation (NYSE: OXY)
- ConocoPhillips (NYSE: COP)
- Chevron Corporation (NYSE: CVX)
- Exxon Mobil Corporation (NYSE: XOM)
Occidental Petroleum (OXY Stock)
Occidental Petroleum (OXY) is an international energy company that has majority of its assets throughout the U.S., Middle East, and North Africa. The company is one of the largest oil producers in the U.S., as well as a leading producer in the Permian and DJ basins, and the offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of its oil and gas products. Also, Occidental Petroleum has its Oxy Low Carbon Ventures subsidiary that is advancing leading-edge technologies and business solutions that economically grow its business.
Just this month, OXY reported a beat for its 2nd quarter 2022 results. Diving in, the company reported earnings of $3.16 per share on revenue of $10.7 billion. Wall street’s conensus earnings estimate was $2.93 per share on revenue of $9.8 billion. This reflects an increase in revenue of 78.6% year-over-year. Since releasing these results, OXY stock has jumped over 5% and is currently trading on Wednesday afternoon at $63.25 per share.
“Oxy completed another quarter with strong operational and financial performance across all of our businesses. We generated $4.2 billion of free cash flow before working capital in the second quarter, our highest quarterly free cash flow to date. We also achieved a significant milestone as we surpassed our near-term debt reduction goal and activated our share repurchase program,” commented President and Chief Executive Officer Vicki Hollub. All in all, is OXY on your list of stocks to watch today?
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ConocoPhillips
Following that, let’s take a look a independent exploration and production company, ConocoPhillips (COP). In brief, ConocoPhilips explores, produces, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids. With operations in 14 countries around the world, while boasting $87 billion worth of total assets, I could see why investors may be add COP stock to your radar in the stock market today. In August, ConocoPhillips reported a miss for its second quarter 2022 results.
In detail, the company posted earnings of $3.91 per share on revenue of $22.0 billion. Analysts consensus earnings expectations were $3.78 per share on revenue of $17.2 billion. Next, the company notched a 115.3% increase in revenue on a year-over-year basis. As well as announcing a $5 billion increase in estaimted 2022 return on capital to its shareholders, brining it to a total of $15 billion. Over the last five trading days shares of COP stock are up 3.75% and it’s currently trading at $96.09 a share on Wednesday afternoon.
“The second quarter delivered strong financial results and presented outstanding opportunities to accelerate progress on our Triple Mandate to reliably and responsibly deliver oil and gas production to meet energy transition pathway demand, deliver competitive returns on and of capital for our shareholders, and achieve our net-zero operational emissions ambition,” quoted chairman & CEO Ryan Lance. All being said, is now the time to add COP stock to your radar?
Chevron
Next, let’s check out Chevron (CVX). Chevron is another natural gas company to watch in the stock market today. The company focuses in producing a broad range of offerings. This ranges from the production of crude oil and natural gas to the manufacturing of transportation fuels and petrochemicals. Separate from that, Chevron also develops additives alongside industry-relevant tech solutions. For a sense of scale, they currently have operations in over 180 countries across the globe.
In July, the company reported a beat on its 2nd quarter 2022 results. In the earnings report, Chevron reported a year-over-year revenue increase of 82.9%. Furthermore, the company posted an earnings per share of $5.82 on revenue of $68.8 billion. As a whole, wall street estimates for this quarter were $5.02 per share on revenue of $55.1 billion. “Second quarter financial performance improved as we delivered a return on capital employed of 26 percent,” commented Mike Wirth, Chevron’s chairman and chief executive officer. As a result, shares of CVX have gained 10% in the last month of trading action and is currently trading at $155.77 during Wednesday’s lunchtime session.
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ExxonMobil
Last but not least, let’s look at ExxonMobil (XOM). As most would know, ExxonMobil is among the largest players in the global energy and petrochemical market today. Through its broad portfolio, ExxonMobil serves the energy needs of the world. Among ExxonMobil’s core divisions would include its Upstream, Product Solutions, and Low Carbon Solutions. Through this, the company produces energy, chemicals, lubricants, and low-emission tech.
At the end of last month, XOM announced a better-than-expected second quarter 2022 results. Specifically, the company announced a earnings of $4.14 per share on revenue of $115.7 billion. This was better than the consensus estimates of earnings per share of $3.80 and revenue of $120.2 billion. Also, Exxon notched in a 70.8% year-over-year jump in revenue for the quarter. “Earnings and cash flow benefited from increased production, higher realizations, and tight cost control,” commented chairman and CEO Darren Woods. “Strong second-quarter results reflect our focus on the fundamentals and the investments we put in motion several years ago and sustained through the depths of the pandemic.” On Wednesday afternoon, shares of XOM stock are trading at $91.40. Given all this, do you think XOM stock is a buy now?
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