Flick through some of the top US energy stocks in Q2 2023

March 23, 2023 02:30 AM PDT | By Raza Naqvi
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  • The main benchmark for US oil prices, WTI, has dropped below $70 per barrel.
  • DVN is expected to pay a quarterly dividend of US$ 0.89 per share, and its dividend yield was 1.63 per cent.
  • In Q4 2022 and the full year, Pioneer Natural's free cash flow was US$ 1.7 billion and US$ 8.4 billion.

In recent months, the price of oil has significantly decreased. The main benchmark for US oil prices, WTI, has dropped below $70 per barrel. That contrasts sharply with last year when the invasion of Ukraine by Russia caused crude prices to soar into the triple digits.

The biggest element affecting oil prices is anxiety that a recession might be on the horizon.

However, a recent report by the International Energy Agency (IEA) in February claimed that the forecast for 2023 is for an increase in global oil consumption by 2 mb/d to 101.9 mb/d, following a slight year-over-year drop in Q4 2022.

Energy plays a significant role in the world economy. Therefore, researching energy stocks can give investors access to it. Let's look at some of the best energy stocks now on the US stock exchanges.

Devon Energy Corporation (NYSE: DVN)

It is one of the largest oil and gas companies, with a market capitalization of over US$ 32.08 billion. On 31st March, DVN is expected to pay a quarterly dividend of US$ 0.89 per share, and its dividend yield was 1.63 per cent at the time of writing.

Notably, Devon Energy raised its fixed dividend by 11 per cent this year. In Q4 2022, the energy company's operating cash flow jumped 74 per cent year-over-year (YoY).

In the financial report, Devon said it achieved an all-time high production of 316,000 barrels per day in Q4 2022.

Devon's operating cash flow amounted to US$ 1.9 billion, up 18 per cent YoY. Meanwhile, the net earnings amounted to US$ 1.2 billion.

Pioneer Natural Resources Company (NYSE: PXD)

It is an independent oil and gas producer and majorly operates in the United States. In Q4 2022 and the full year, Pioneer Natural's free cash flow was US$ 1.7 billion and US$ 8.4 billion.

Notably, the company repurchased shares worth US$ 400 million in the fourth quarter and US$ 1.65 billion in 2022.

Pioneer also maintained a strong balance sheet and had US$ 1 billion as unrestricted cash on hand.

Marathon Oil Corporation (NYSE: MRO)

In 2022, net production was 70% oil and NGLs and 30% natural gas, averaging 343,000 barrels of oil equivalent per day. Marathon's market capitalization was US$ 14.45 billion as of writing, and earnings per share (EPS) were 5.24.

Marathon paid a quarterly dividend of US$ 0.1 with a dividend yield of 1.74 per cent. The 52-week high of the MRO stock is US$ 33.42 apiece, and the 52-week low stood at US$ 19.42 per share.

In 2022, Marathon's revenues from contracts with customers were US$ 7.54 billion compared to US$ 5.6 billion in 2021. Meanwhile, the income from operations increased significantly to US$ 3,951 million compared to US$ 1,308 million.

The net income rose significantly from US$ 946 million in 2021 to US$ 3,612 million in 2022.

Chevron Corporation (NYSE: CVX)

Chevron recently signed a Memorandum of Understanding with JERA to work on carbon capturing and storage projects in Australia and the United States.

Chevron's net earnings amounted to US$ 6.4 billion in Q4 2022, up from US$ 5.1 billion in the same quarter of the previous year.

CVX stock's dividend yield was 3.79 per cent as of writing, and its shareholders were paid a quarterly dividend of US$ 1.51 apiece.

Bottom line

Stock market investing is a fantastic approach to increasing wealth and generating impressive returns on your investment capital. However, it is crucial to invest carefully and thoughtfully to minimize the risks of investing in asset categories with greater risk.

While stocks offer higher growth potential than many other forms of investment, they can also be volatile, and their value may fluctuate based on factors such as economic conditions, market trends, and company performance. This underlines the necessity of extensive investigation and study before purchasing any stock to make wise choices.

It is also important to diversify your investments across different companies and sectors to spread out the risks and minimize the impact of any one stock's performance on your overall portfolio. Therefore, making long-term investments rather than snap judgements based on momentary market swings is wise. Investing carefully and thoughtfully can minimize risks and maximize returns, making the stock market a potentially lucrative investment option.


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