COP to EOG: Five oil & gas stocks to explore amid Russian import ban

Highlights:

• ConocoPhillips (NYSE:COP) returned over 52% gains YTD.
• EOG Resources, Inc. (NYSE:EOG) reported revenue of US$3.98 billion in Q1, FY22.
• Hess Corporation (NYSE:HES) returned over 60% gains YTD.

On Tuesday, oil prices jumped to their two-month high after the EU agreed to a partial ban on Russian oil. But factors like China’s easing of covid lockdown may have also pushed the price up.

In the same week, US gas prices also hit fresh highs. Many states were paying more than US$5 per gallon of gas. The national average price on May 31 was US$4.622.

The spike in energy prices was largely blamed on Russia's invasion of Ukraine. The supply concerns drove the prices higher. Against this backdrop, oil and gas stocks were in focus. Here we explore the top five S&P 500 oil and gas stocks worth watching in June.

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ConocoPhillips (NYSE:COP)

ConocoPhillips is one of the leading natural gas liquids firms specializing in hydrocarbon exploration and production. The company is based in Houston, Texas.

The shares of the company traded at US$116.22 at 2:47 pm ET on June 1, up 3.44% from their closing price of May 31. Its stock value increased by 52.31% YTD.

The firm has a market cap of US$150.80 billion, a P/E ratio of 12.02, and a forward one-year P/E ratio of 7.60. Its EPS is US$9.70.

The 52-week highest and lowest stock prices were US$117.99 and US$51.41, respectively. Its trading volume was 17,278,540 on May 31.

The company's total revenue and other income were US$19.29 billion in Q1, FY22, compared to US$10.55 billion in the year-ago quarter.

Its net income came in at US$5.75 billion, or US$4.39 per diluted share, as compared to an income of US$982 million, or US$0.75 per diluted share in Q1, FY21.

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Source: Pixabay

EOG Resources, Inc. (NYSE:EOG)

EOG Resources Inc. is an energy company based in Houston, Texas. It primarily engages in hydrocarbon exploration.

The stock traded at US$140.25 at 2:53 pm ET on June 1, up 2.40% from its previous closing price. The EOG stock rose 50.24% YTD.

The market cap of the company is US$82.28 billion, the P/E ratio is 18.76, and the forward one-year P/E ratio is 8.14. Its EPS is US$7.49.

The stock touched a peak price of US$141.99 and the lowest price of US$62.81 in the last 52 weeks. Its share volume on May 31 was 7,746,301.

The company posted a revenue of US$3.98 billion in Q1, FY22, as compared to US$3.69 billion in the same quarter of the prior year. On a GAAP basis, its net income came in at US$390 million, or US$0.67 per share, against an income of US$677 million, or US$1.16 per share in Q1, FY21.

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Pioneer Natural Resources Company (NYSE:PXD)

Pioneer Natural Resources is an oil and gas exploration firm. It produces natural gas liquids (NGLs) and gas. It is based in Irving, Texas.

Its shares traded at US$278.28 at 2:55 pm ET on June 1, up 0.12% from their closing price of May 31. Its stock value soared 48.72% YTD.

The firm has a market cap of US$67.46 billion, a P/E ratio of 16.97, and a forward one-year P/E ratio of 8.29. Its EPS is US$16.43.

The 52-week highest and lowest stock prices were US$288.46 and US$133.73, respectively. Its trading volume was 4,314,902 on May 31.

The company reported a revenue of US$6.17 billion in Q1, FY22, as compared to US$2.44 billion in the same quarter of the prior year. Its net income attributable to common shareholders was US$2.00 billion, or US$7.85 per diluted share, against a loss of US$70 million, or US$0.33 per diluted share in Q1, FY21.

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Devon Energy Corporation (NYSE:DVN)

Devon Energy is an independent energy firm engaged in the exploration and production of oil, natural gas, and NGLs. It is based in Oklahoma City, Oklahoma.

The stock traded at US$76.62 at 2:57 pm ET on June 1, up 2.30% from its previous closing price. The DVN stock surged 64.36% YTD.

The market cap of the company is US$50.54 billion, the P/E ratio is 14.37, and the forward one-year P/E ratio is 8.54. Its EPS is US$5.33.

The stock touched a peak price of US$79.19 and the lowest price of US$24.05 in the last 52 weeks. Its share volume on May 31 was 22,040,700.

The company posted a revenue of US$3.81 billion in the first quarter of fiscal 2022, as compared to US$2.05 billion in the year-ago quarter. Its attributable net earnings came in at US$989 million, or US$1.48 per diluted share, versus US$213 million, or US$0.32 per diluted share in Q1, FY21.

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Hess Corporation (NYSE:HES)

Hess Corporation is an independent energy firm producing crude oil and natural gas. The company is based in New York.

The shares traded at US$126.62 at 2:59 pm ET on June 1, up 2.88% from their closing price of May 31. Its stock value ticked up 60.27% YTD.

The firm has a market cap of US$39.38 billion, a P/E ratio of 54.54, and a forward one-year P/E ratio of 13.60. Its EPS is US$2.32.

The 52-week highest and lowest stock prices were US$129.40 and US$61.93, respectively. Its trading volume was 4,275,706 on May 31.

The company's revenue was US$2.37 billion in Q1, FY22, as compared to a revenue of US$1.91 billion in the same quarter of the prior year. Its net income came in at US$505 million, against an income of US$356 million in the first quarter of fiscal 2021.

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Bottom line:

Despite strong headwinds, the oil and gas industry has been one of the best performing sectors this year. The S&P 500 Oil and Gas Exploration & Production Select Industry Index surged 60.76% YTD while increasing 74.12% over the past 12 months. However, investors should closely evaluate the companies before investing in stocks.