Should Investors Be Watching These Trending Natural Gas Stocks Today?
Natural gas is one of the most abundant energy resources on the planet, and it is a vital part of the global economy. Natural gas stocks represent a significant portion of many investors’ portfolios, and the performance of these stocks can have a major impact on the markets. However, natural gas prices are highly volatile, and they can fluctuate rapidly in response to changes in supply and demand. Currently, some of the most popular natural gas companies among investors are names such as Chevron Corporation (NYSE: CVX), and Devon Energy Corporation (NYSE: DVN) to name a few.
As a result, natural gas stocks can be very lucrative investments, but they can also be very risky. Natural gas stocks tend to perform best when the global economy is strong, and when there is high demand for natural gas. However, when the economy weakens or when supplies of natural gas rise, these stocks can quickly lose value. Natural gas stocks are therefore best suited for investors who are willing to take on a high degree of risk. If that sounds like you, here are three top natural gas stocks to watch in the stock market today.
Natural Gas Stocks To Watch Right Now
- ConocoPhillips (NYSE: COP)
- Occidental Petroleum Corporation (NYSE: OXY)
- Exxon Mobil Corporation (NYSE: XOM)
ConocoPhillips (COP Stock)
Starting our list today, ConocoPhillips (COP) explores, produces, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids. For a sense of scale, the company has operations in 14 countries around the globe, with nearly $87 billion worth of total assets. Currently, COP has an annual dividend yield of 4.01%. Just this week, analysts from Morgan Stanley (NYSE: MS) maintained an overweight rating for COP Stock with a price target between $117 and $118 per share. What’s more, also this month ConocoPhillips reported its Q2 2022 financial results.
Diving in, COP reported earnings per share of $3.91, with revenue of $22.0 billion. This is in comparison with analysts’ earnings estimates of $3.78 per share, along with revenue of $17.2 billion for the quarter. Additionally, the company posted a 115.3% increase in revenue on a year-over-year basis. What’s more, COP announced a $5 billion increase in estimated 2022 return on capital to its shareholders. Shares of COP stock have outperformed the broader markets this year and are up by over 49% so far in 2022. As of Tuesday morning, COP stock is trading at $110.00 per share. Given all of this, will you be keeping close tabs on COP stock today?
Occidental Petroleum (OXY Stock)
Next, Occidental Petroleum (OXY) is an international energy company that has most of its assets throughout the U.S., Middle East, and North Africa. Actually, OXY is one of the largest oil producers in the United States. On top of that, Its midstream and marketing segment provides flow assurance and maximizes the value of its oil and gas products. As of today, OXY has a current annual dividend yield of 0.72%. At the end of last month, Barclays analysts maintained an overweight rating for OXY stock.
In August, OXY reported better-than-expected Q2 2022 financial results. In detail, the company posted earnings per share of $3.16, with revenue of $10.7 billion. For context, the Wall Street analyst’s estimates for this quarter were earnings per share of $2.93, with revenue of $9.8 billion. Moreover, OXY was able to notch in a 78.6% revenue increase during the same period, a year prior. Year-to-date shares of OXY have outperformed the overall markets and are up 132% so far. With that, on Tuesday morning OXY stock is currently trading at $72.01 per share. With all that being said, do you think OXY stock is good natural gas stock to buy right now?
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Exxon Mobil (XOM Stock)
Lastly, Exxon Mobil (XOM) is the largest oil company in the world. In brief, ExxonMobil Corporation is an American multinational oil and gas corporation based in Irving, Texas. Additionally, XOM produces a broad range of products. This includes natural gas, gasoline, diesel, jet fuel, chemicals, and lubricants. At the beginning of the month, analysts from Bank Of America Securities maintained their buy rating on XOM, while raising their price target from $120 to $123. As it stands today, XOM has a current annual dividend yield of 3.66%.
Last month, the company reported stronger-than-estimated 2nd Quarter 2022 financial results. In detail, XOM posted earnings of $4.14 per share, along with revenue of $115.7 billion. This came in better than the consensus earnings estimates of $3.80 per share, and revenue estimates of $120.2 billion. Next, Exxon reported a 70.8% increase in revenue during the same period in 2021. Year-to-date shares of XOM have also outperformed the overall markets and are up over 52% so far. During Tuesday morning’s trading session XOM stock is currently trading at $96.86 per share. All in all, is a XOM stock on your list of natural gas stocks to watch in the stock market today?