5 Top Energy Stocks To Watch For Your March 2022 Portfolio
As the broader stocks market continues to adjust to the conflict between Russia and Ukraine, energy stocks are in focus. By and large, this is likely due to global sanctions potentially weighing in on Russia’s oil exports. The likes of which make up a sizable 10% chunk of the world’s global oil output. All this would be alarming at a time when global energy supplies are already dwindling. Accordingly, global oil prices are now surging with Brent crude hitting peaks of around $113 a barrel. This would be its highest since June 2014. Moreover, U.S. West Texas Intermediate crude is holding around the $112 mark, a high last seen in August 2013.
Not to mention, investors also have the latest remarks for Federal Reserve chair Jerome Powell to consider as well. Namely, the Fed remains steadfast in its plans to raise interest rates later this month despite all of this. As a result, the focus on hot commodities such as oil could, in theory, also increase now. For one thing, oil firms like ExxonMobil (NYSE: XOM) and Devon Energy (NYSE: DVN) are already seeing significant stock market gains. Year-to-date, both XOM stock, and DVN stock are up by over 20%. As such, it would not surprise me to see investors looking out for the best energy stocks to buy in the stock market today.
Energy Stocks To Buy [Or Sell] This Week
- ConocoPhillips Company (NYSE: COP)
- Chesapeake Energy Corporation (NASDAQ: CHK)
- Enphase Energy Inc. (NASDAQ: ENPH)
- Shell PLC (NYSE: SHEL)
- Chevron Corporation (NYSE: CVX)
ConocoPhillips is one of the world’s leading exploration and production companies based on both production and reserves. It boasts a globally diversified asset portfolio. With operations and activities in 14 countries, the company has over $91 billion in total assets and over 9,800 employees. COP stock has enjoyed gains of over 70% in the past 6 months alone. Last month, the company reported its fourth-quarter and full-year 2021 financial results.
Diving in, the company reported a fourth-quarter earnings of $2.6 billion, or $1.98 per share compared to a loss of $0.8 billion a year ago. In addition to that, the company also announced a $1 billion increase in expected 2022 return of capital to shareholders at a new total of $8 billion. This would represent an increase of over 30% in the past year. “Our strong fourth-quarter results capped a transformative year for our company as we continue to deliver on our Triple Mandate,” said Ryan Lance, ConocoPhillips chairman, and chief executive officer. “We closed and successfully integrated the Concho acquisition while exceeding our synergy targets, acquired and began to integrate the accretive Shell Permian position into our portfolio, and announced both the sale of our Indonesia assets and acquisition of additional interest in APLNG.” Given this piece of news, is COP stock worth investing in right now?
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Chesapeake Energy Corporation
Following that, we have Chesapeake Energy Corporation, an energy company that engages in hydrocarbon exploration. The company focuses on discovering and responsibly developing its leading positions in the oil and gas plays. The company also hopes to achieve net-zero direct GHG emissions by 2035, the company is committed to safely answering the demand for affordable and reliable carbon energy.
Last week, the company also reported its fourth-quarter financials. Firstly, net income for the quarter was $1.4 billion, or $11.13 per diluted share. Secondly, net cash provided by operating activities was $563 million for the quarter. It also ended the quarter with an unrestricted cash balance of $905 million. The company also produced approximately 539,000 barrels of oil equivalent per day, utilizing an average of 9 rigs to drill 32 wells and place 35 wells on production. All things considered, is CHK stock a top energy stock to buy right now?
Enphase Energy Inc
Enphase is an energy company that designs and manufactures software-driven home energy solutions. This would include solar generation, home energy storage, and web-based monitoring and control. Its semiconductor-based microinverter system converts energy at the individual solar module level and brings a system-based technology approach to solar generation, storage, and management.
Last month, the company announced a series of partnerships. Notably, it will be partnering with renewable energy and grid solutions provider Swell Energy. The partnership will enable Enphase Energy Systems to participate in Swell’s distributed virtual power plant (VPP) programs in California, New York, and Hawaii. The company also expanded its Enphase Installer Network (EIN) in Victoria, Australia. All Enphase solar systems installed in Australia are outfitted with the Enphase IQ Gateway. With that in mind, is ENPH stock worth watching?
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Another name to consider in the energy industry now would be Shell. In brief, the U.K.-based oil and gas titan is a towering presence in the field today. Through its global portfolio, the company specializes in the exploration, production, refining, and marketing of oil and natural gas. For a sense of scale, Shell has operations spanning 70 countries worldwide. It currently has a market cap of over $208 billion. Year-to-date, SHEL stock is currently gaining by over 20%.
Even with its impressive work in the energy industry, Shell continues to diversify its energy portfolio nonetheless. Just yesterday, news broke of the company’s latest investments into renewable energy. Namely, Shell is buying a 49% stake in wind farm developer WestWind Energy’s Australian division. By WestWind’s estimates, the entire project could cost up to $4 billion to complete. Ideally, this would serve to further bolster Shell’s low-carbon business in the region. On that note, could all this make SHEL stock a top buy in your books?
Chevron is a multinational energy company that has operations all over the globe. The company continues to develop affordable, reliable, and ever-cleaner energy that is essential to modern life. It is also aggressively working towards making energy and global supply chains more sustainable. This would help industries and customers that use its products to create a lower-emissions world. CVX stock has seen year-to-date gains of over 27%.
On Tuesday, the company announced that it will be delivering higher returns and lowering carbon emissions. In detail, the company is raising its share buyback guidance to $5 to $10 billion per year. It also increased the return on capital employed target to 12% by 2026 at $60 Brent. Accordingly, it has also reaffirmed its carbon intensity reduction and new energies growth targets. This would include executing projects to lower carbon intensity as it progresses towards its 2050 net-zero aspirations for Upstream Scope 1 and 2 emissions. With this piece of information, is CVX stock worth jumping on?
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