Kalkine Media lists 3 US energy stocks to watch in 2023

January 05, 2023 03:12 AM PST | By Mridul Gogoi
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  • Occidental Petroleum Corporation holds a dividend yield of 0.852 per cent.
  • Exxon Mobil Corporation paid a quarterly dividend of US$ 0.91 per cent.
  • SLB posted revenue of US$ 7.5 billion in Q3 2022.

The energy sector was a respite in a year characterized by high volatility. Companies showed more interest in share buybacks and doling out dividends. However, during market upheavals, such criteria cannot be considered foolproof to scoop profits. The stock market is still very unpredictable, and investors must tread carefully.

Amid, we look at three US energy stocks and their performances in recent quarters:

Occidental Petroleum Corporation (NYSE: OXY)

Occidental Petroleum is engaged in the exploration and production of oil in the US, Latin America, and the Middle East. Occidental has a dividend yield of 0.852 per cent. It paid a quarterly dividend of US$ 0.13 apiece.

The company said that in the third quarter of 2022, it repaid US$ 1.3 billion of debt and made repayments of US$ 9.6 billion YTD.

Occidental Petroleum bought back over 28.4 million shares for US$ 1.8 billion in Q3 2022.

It reported earnings per diluted share of US$ 2.52 and adjusted earnings per diluted share of US$ 2.44 in the third quarter of 2022.

Occidental registered cash flow from continuing operations of US$ 4.3 billion and cash flow from continuing operations (before working capital) of US$ 4.7 billion in the reported quarter. The OXY stock rose over 96 per cent year-over-year.

Exxon Mobil Corporation (NYSE: XOM)

ExxonMobil explores, produces, and refines oil all around the world. The oil and gas company distributed a quarterly dividend of US$ 0.91 per cent. It has a dividend yield of 3.418 per cent. The EPS of the oil exploration company is 12.25.

The sales and other operating revenue of Exxon Mobil were US$ 106,512 million in the third quarter of 2022 compared to US$ 71,892 million in the same period in 2021. The company's interest expense in Q3 2022 was reported at US$ 209 million versus US$ 214 million in Q3 2021. The XOM stock returned over 25.53 per cent in the past six months while gaining 67.63 per cent YoY.

Exxon Mobil Corporation Q3 operating revenue and interest expense (2022 v 2021)Source: ©Kalkine Media®; © Canva via Canva.com

Schlumberger N.V.  (NYSE: SLB)

Erstwhile Schlumberger, now SLB, is the biggest oilfield service firm globally. It provides services in a wide range of areas including reservoir performance, production enhancement, well construction, and digital solutions.

SLB has a dividend yield of 1.359 per cent. SLB paid a dividend of US$ 0.175 apiece, which is next payable on January 12, 2023.

SLB’s revenue in Q3 2022 was US$ 7.5 billion, which grew 10 per cent sequentially and 28 per cent YoY. Revenue in the third quarter of the previous year was US$ 5.84 billion.

The adjusted EBITDA in the third quarter of 2022 was US$ 1,756 million versus US$ 1,296 million in the corresponding quarter in 2021. The SLB stock saw a jump of over 31.64 per cent in the last three months.

Bottom line:

As an investor, do your analysis right and think twice before putting your bets on any stock as the market is still volatile. The last year was highly bearish, and investors witnessed massive selloffs. So, if you want to protect your investment and stay safe during these uncertain times, you might take the long-term route, and adopt a diversification strategy.


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