Kalkine Media looks at three energy stocks amid a bear market

September 20, 2022 06:15 AM PDT | By Rupam Roy
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  • The DVN stock soared 121 per cent YoY.
  • ONEOK, Inc. (NYSE: OKE) saw 21 per cent YoY gains in its Q2 FY22 net income.
  • The S&P 500 Energy segment added over 41 per cent YTD.

The energy sector seems to have benefited due to the higher oil and gas prices. A few companies from the energy sector are Devon Energy Corporation (NYSE: DVN), ONEOK, Inc. (NYSE: OKE), Williams Companies, Inc. (NYSE: WMB), etc. These companies also pay out a dividend to investors.

The global market has seen volatile trading in 2022, forcing investors to stay away from risk-bet assets on worries over several economic concerns. The decades-high inflation, higher interest rates, and other macroeconomic concerns have slowed down growth in the market compared to what was seen last year.

The Russia-Ukraine war has also fueled higher energy and food prices, adding to the already soaring inflation. On the other hand, the central bank's effort to fight the rising inflation seems to have cooled economic growth.

Let's look at the recent performance and key details about these stocks with Kalkine Media®.

Devon Energy Corporation (NYSE: DVN)

Devon Energy is a leading energy company with a dividend yield of 1.08 per cent. The US$ 43.11 billion market cap company primarily engages in hydrocarbon exploration.

The DVN stock rose about 121 per cent in the last 12 months while jumping over 49 per cent this year. Its price soared 19 per cent QTD.

Devon Energy's total revenue increased to US$ 5.62 billion in Q2 FY22, from US$ 2.41 billion in the year-ago quarter. The net earnings of the Oklahoma City, Oklahoma-based firm were US$ 1.93 billion in the fiscal 2022 second quarter, an increase from US$ 256 million in Q2 FY21.


ONEOK is a diversified firm with a dividend yield of 6.21 per cent. The natural gas industry-focused company holds a market cap of US$ 27.40 billion.

The OKE stock surged over ten per cent YoY while adding more than three per cent YTD and nine per cent QTD. However, as of September 20, 2022, its RSI was about 46, according to Refinitiv data. Notably, an RSI value between 30 and 50 indicates a volatile state of the stock.

ONEOK, Inc. noted a 21 per cent growth YoY in its second quarter fiscal 2022 net income of US$ 414.4 million, from an income of US$ 342.1 million in the year-ago quarter. The adjusted EBITDA of the company rose 11 per cent YoY to US$ 886 million in the latest quarter.

Three energy stocks and their recent stock performanceSource: ©Kalkine Media®; © Canva Creative Studio via Canva.com

Williams Companies, Inc. (NYSE: WMB)

Williams Companies is an energy infrastructure firm with a dividend yield of 5.36 per cent. The US$ 38.99 billion market cap company engages in natural gas processing, petroleum business, and other related operations.

The WMB stock added over 23 per cent YTD and 26 per cent YoY. It rose about two per cent in the third quarter through September 19.

The revenue of Williams Companies was US$ 2.49 billion in Q2 FY22, up from US$ 2.28 billion in the same quarter of the prior year. The GAAP net income of the Tulsa, Oklahoma-based company rose 32 per cent YoY to US$ 400 million in Q2 FY22.

Bottom line:

The energy sector is among the few segments this year that has maintained steady momentum. However, given the volatile trading and other uncertainties in the market, it cannot be predicted how the sector will perform in the coming days.

Notably, the S&P 500 Energy sector gained over 41 per cent YTD while jumping over nine per cent QTD. However, it declined over two per cent this month through September 19. Compared to the broader index, the S&P 500 index tumbled over 18 per cent YTD while mounting about three per cent QTD.


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