Top energy stocks to explore before oil hits US$100

Summary

  • ConocoPhillips (NYSE: COP) reported earnings of US$1.0 billion, or $0.75 per share, in Q1 ended March 31.
  • Equitrans Midstream Corporation (NYSE: ETRN) has a market capitalization of US$3.8 billion.
  • Devon Energy Corp. (NYSE: DVN) reported net earnings of US$213 million, or US$0.32 per diluted share, in Q1.

Energy companies explore, produce, and market gas, oil, and renewable resources across the globe. Popular energy companies mostly explore oil reserves. Midstream energy companies are into transportation and storage of energy. And aligned companies supply drilling machines and other equipment for energy exploration. 

Energy companies had a tough time during the pandemic as demand was low and they had to reduce production. But with the reopening of the economy, the oil prices are reaching record levels, simultaneously increasing the stock prices of energy companies.


Source: Pixabay.


ConocoPhillips (NYSE: COP)

COP is a US-based multinational hydrocarbon exploration company. It operates in 15 countries. It has US$84 billion worth of assets and around 10,300 employees.

Its stock traded at US$60.65 at 12.54 pm ET on June 22, down 0.35% from the previous close. The stock price increased by 53.32% YTD. Its market capitalization is US$81.8 billion.

It reported earnings of US$1.0 billion, or $0.75 per share, in Q1, 2021, ended on March 31, compared to a loss of US$1.7 billion, or US$1.60 per share YoY. Its reported adjusted earnings of US$$0.9 billion, or $0.69 per share. Cash from operating activities was US$2.1 billion.

Also read: Top 10 energy stocks to explore in US


Targa Resources Corp. (NYSE: TRGP)

TRGP is engaged in processing and transporting natural gas in North America.

Its stock traded at US$44.79 at 1.03 pm ET on June 22, down 2.01% from the previous closing price. Its stock price increased by 71.1% YTD. Its market capitalization is US$10.2 billion.

It logged net income of US$146.4 in Q1 against a net loss of US$1737.8 million in the corresponding period of 2020. Its adjusted EBITDA was US$517.7 million compared to US$429.1 million YoY.

Equitrans Midstream Corporation (NYSE: ETRN)

ETRN is one of the largest gas exploration companies in the US. ETRN focuses on gas transmission, storage systems, gas gathering systems, and water services to support natural gas development and production.

Its stock traded at US$8.815 at 1.20 pm ET on June 22, down 3.34% from the previous closing price. The stock increased by 13.95% YTD. Its market capitalization is US$3.8 billion.

The company generated US$77 million of net income and US$308 million of adjusted EBITDA in Q1, 2021 ended on March 31. It logged net cash of US$229.6 million from operations. Free cash flow was US$109.6 million.

Devon Energy Corp. (NYSE: DVN)

DVN is a Delaware-based Fortune 500 oil and gas company. Its stock traded at US$28.31 at 1.29 pm ET on June 22, down 1.01% from the previous closing price. Its stock price increased by 75.60% YTD. Its market capitalization is US$19.1 billion.

Its net earnings were US$213 million, or US$0.32 per diluted share, and core earnings were US$298 million, or US$0.45 per diluted share, in Q1. It had US$1.9 billion cash and a US$3 billion credit facility.


Also read: Enovix & QuantumScape Corp: Two Battery Stocks To Explore


Source: Pixabay.


Holly Energy Partners, L.P (NYSE: HEP)

The company provides petroleum products, crude oil transportation, terminals, storage, and throughput services to the petroleum industry in the US. Its stock traded at US$33.83 at 1.47 pm ET on June 22, down 0.12% from the previous close. Its prices rose by 33.95% YTD.

Its market capitalization is US$5.4 billion.

Also read: 10 Hot Green Stocks To Explore This Summer

Its net income was US$64.4 million, or US$0.61 per share, in Q1 of 2021, against net income of US$24.9 million, or US$0.24 per share, in the year-ago period.

It reported an EBITDA of US$96.2 million. Its revenue was US$127.2 million, a decrease of US$0.7 million compared to Q1 of 2020.

Cabot Oil & Gas Corporation (NYSE: COG)

COG is also an oil and gas exploration company, with proven natural gas reserves of 13.7 tcfe.

Its stock traded at US$15.985 at 1.59 pm ET on June 22, up 0.35%, from the previous closing price. Its prices declined 3.73% YTD. Its market cap is around US$6.3 billion.

It net income was US$126.4 million, or US$0.32 per share, net cash from operating activities was US$290.5 million, and free cash flow was US$137.6 million in the first quarter.

It repaid US$88 million of senior notes maturing in January 2021.

Also read: Shell & Exxon: 2 Energy Stocks To Watch In June

Cimarex Energy Co. (NYSE: XEC)

XEC also explores oil and gas in states like Texas, Oklahoma, etc.  Its stock traded at US$68.58 at 2.12 pm ET on June 22, up 0.63% from the previous close. Its stock prices increased by 76.87% YTD. Its market capitalization is US$7.04 billion.

Its net income was US$128.1 million, or $1.25 per share, net cash from operating activities was US$403 million, and free cash flow was US$231 million in Q1. It had a long-term debt of US$2 billion.

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