Kalkine Media lists US energy stocks to watch in December

November 29, 2022 02:55 AM PST | By Mridul Gogoi
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  • Exxon Mobil announced its Q4 2022 dividend of US$ 0.91.
  • Occidental Petroleum repurchased over 28.4 million shares in Q3 2022.
  • Chevron Corporation's earnings in Q3 2022 were US$ 11.2 billion. 

The worsening pandemic situation in China is impacting stocks across the world. Meanwhile, the slowing down of the global economy is anticipated by market participants everywhere. The energy sector seemed to gain some attention, with the US pushing for indigenous production and lessening its dependence on foreign nations.

The current fiscal remained one of the most challenging for investors as every sector faced the heat. So, it is better to research before investing in any stock. It will help you protect your money and help you in sailing through volatile market conditions.

Here, we look at five energy stocks- Exxon Mobil Corporation (NYSE: XOM), Devon Energy Corporation (NYSE: DVN), Occidental Petroleum Corporation (NYSE: OXY), Chevron Corporation (NYSE: CVX), BP p.l.c. (NYSE: BP), and examine their recent performances: 

Exxon Mobil Corporation (NYSE: XOM)

ExxonMobil Corporation is a US multinational oil & gas corporation based in Irving. The largest refiner in the world, ExxonMobil has a capacity of 4.6 million barrels of oil per day.

The company announced a fourth-quarter dividend of US$ 0.91 per share. In its Q3 2022 results, ExxonMobil posted robust oil and gas production, which included record Permian production of nearly 560,000 oil-equivalent barrels per day. Its production increased to 50,000 oil-equivalent barrels per day in the reported quarter.

The Q3 2022 earnings of ExxonMobil were US$ 19.7 billion compared with US$ 17.9 billion in the previous quarter of the same fiscal.

The cash increased by US$ 11.6 billion in Q3 with a free cash flow of US$ 22 billion. It also mentioned that asset sales and divestments in the reported quarter were US$ 2.7 billion in cash proceeds, bringing YTD proceeds to nearly US$ 4 billion.

The XOM stock climbed over 17.9 per cent in the past six months.

Devon Energy Corporation (NYSE: DVN)

Devon Energy is an energy company headquartered in Oklahoma City. It deals in the exploration of hydrocarbon in the US.

The company is likely to pay its next quarterly dividend of US$ 1.35 on December 30, 2022. Devon Energy’s dividend yield  was 9.9 per cent at the time of writing.

The EPS of the US$ 44.68 billion company is 9.53, while its P/E ratio is 7.20.

Occidental Petroleum Corporation (NYSE: OXY)

The Houston-based Occidental Petroleum Corporation is into hydrocarbon exploration in the US and the Middle East. It is also involved in petrochemical manufacturing in the US, Canada, and Chile.

Occidental Petroleum distributed a quarterly dividend of US$ 0.13. The next dividend is slated to be paid on January 17, 2023. The dividend yield of the company is 0.74 per cent.

The earnings per diluted share of Occidental were US$ 2.52, and adjusted earnings per diluted share were reported at US$ 2.44 in Q3 2022.

The company said its cash flow from continuing operations in the reported quarter was US$ 4.3 billion, and cash flow from continuing operations before working capital of US$ 4.7 billion.

In the third quarter of the current fiscal, Occidental Petroleum repaid US$ 1.3 billion of debt.

The hydrocarbon exploration company also bought back over 28.4 million shares for US$ 1.8 billion during Q3 2022, sending the YTD repurchases to 41.8 million shares for US$ 2.6 billion through November 7, 2022.

Market capitalization of XOM, DVN,OXY, CVX, BP (US$)Source: ©Kalkine Media®; © Canva via Canva.com

Chevron Corporation (NYSE: CVX)

Chevron Corporation deals in oil exploration and production. The P/E ratio of Chevron is 10.4. It announced a dividend of US$ 1.42, which is likely to be distributed on December 12, 2022. Its EPS is 17.58.

In Q3 2022, Chevron’s cash flow from operations was reported at US$ 15.3 billion, while its free cash flow was US$ 12.3 billion.

Chevron’s earnings in the reported quarter were US$ 11.2 billion, while the adjusted earnings were US$ 10.8 billion. The company earned US$ 3.4 billion from upstream operations in Q3 2022. It was US$ 1.96 billion in the same quarter the previous year.

The CVX stock grew 0.3880 per cent WTD while on a QTD basis, it surged over 27.86 per cent.

BP p.l.c. (NYSE: BP)

BP p.l.c. is a British MNC headquartered in London. The oil & gas company is among the oil and gas giants worldwide.

The US$ 105.53 billion market valuation company paid a quarterly dividend of US$ 0.36. It has a dividend yield of 4.087 per cent.

In Q3 2022, BP registered a surplus cash flow of US$ 3.5 billion. The company said that at the end of Q3 2022, its net debt was US$ 22 billion, versus US$ 22.8 billion at the end of the previous quarter. It was US$ 32 billion at the end of the third quarter of 2021.

The company’s capital expenditure in Q3 2022 was $3.2 billion, which was reported at US$ 9 billion in the nine months of the current fiscal. It was US$ 3.2 billion in the year-ago quarter and US$ 9 billion in the nine months comparable period in 2021.

Bottom line:

Investors choosing a sector should do an in-depth analysis of the particular stock and its financials before putting their money. The US equity market has gone through a rollercoaster ride this year due to a slew of macroeconomic factors, rising inflation, Fed rate hikes, and a looming recessionary pressure. The market sentiments remained subdued for most of the year as traders looked for ways to protect their investments. So, as an investor, look for a long-term plan and don’t aim for immediate gains until the market volatility subsides. 


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