XOM to CVX: Top 5 oil & gas stocks to explore as recession looms

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XOM to CVX: Top 5 oil & gas stocks to explore as recession looms

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 XOM to CVX: Top 5 oil & gas stocks to explore as recession looms
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Highlights:

  • Exxon Mobil Corporation (NYSE: XOM) will report its second-quarter fiscal 2022 earnings results on July 29.
  • Chevron Corporation (NYSE: CVX) will release its Q2, FY22 earnings report on July 29.
  • Devon Energy Corporation (NYSE: DVN) will report its second quarter fiscal 2022 earnings results on August 1.

The stock market has been volatile in 2022 due to adverse macroeconomic factors like elevated inflation, tight labor market, supply constraints, and the Fed's aggressive monetary policies. However, the energy sector has maintained a steady momentum, gaining attention from investors.

Moscow's invasion of Kyiv has also dampened the global market sentiments while bumping up the prices of oil, natural gas, coal, and other commodities. While the geopolitical turmoil has affected most sectors, the energy stocks have benefitted.

WTI crude price soared around 40% this year and over 115% since the start of 2021. Energy stocks have been investors’ favorite in recent months. Here, we explore some top oil and gas stocks that may continue to trend in Q3.

Exxon Mobil Corporation (NYSE: XOM)

Exxon Mobil Corporation is a leading energy firm that explores and produces crude oil and natural gas. It is based in Irving, Texas.

The shares of the company traded at US$88.10 at 12:54 pm ET on July 19, up 2.32% from their closing price of July 18. Its stock value increased by 35.51% YTD.

The firm has a market cap of US$371.20 billion, a P/E ratio of 14.58, and a forward one-year P/E ratio of 7.49. Its current yield is 4.16%, and its annualized dividend is US$3.52.

The 52-week highest and lowest stock prices were US$105.57 and US$52.10, respectively. Its trading volume was 19,395,810 on July 18.

The company will report its second-quarter fiscal 2022 earnings results on July 29, before the market opens.

Meanwhile, in the first quarter of fiscal 2022, its total revenue and other income were US$90.50 billion, and its attributable net income was US$5.48 billion.

Top oil and gas stocks to explore in Q3Source: ©2022 Kalkine Media®

Chevron Corporation (NYSE: CVX)

Chevron Corporation is an energy firm that focuses on exploring oil and natural gas and refining gasoline. It is based in San Ramon, California.

The stock of the company traded at US$143.11 at 1:00 pm ET on July 19, up 2.53% from its previous closing price. The CVX stock rose 17.04% YTD.

The company's market cap is US$281.18 billion, the P/E ratio is 13.46, and the forward one-year P/E ratio is 7.69. Its current yield is 4.13%, and its annualized dividend is US$5.68.

The stock touched the highest price of US$182.40 and the lowest price of US$92.86 in the last 52 weeks. Its share volume on July 18 was 7,943,901.

Chevron will release its Q2, FY22 earnings report on July 29 at 11 am ET.

In Q1, FY22, its total revenue and other income were US$54.37 billion, as compared to US$32.02 billion in the year-ago quarter. Its attributable net income was US$6.25 billion, against an income of US$1.37 billion in Q1, FY21.

Occidental Petroleum Corporation (NYSE: OXY)

Occidental Petroleum is a hydrocarbon exploration and petrochemical manufacturing firm based in Houston, Texas.

The shares of the company traded at US$62.448 at 1:04 pm ET on July 19, up 3.99% from their closing price of July 18. Its stock value soared 93.34% YTD.

The firm has a market cap of US$58.54 billion, a P/E ratio of 9.43, and a forward one-year P/E ratio of 5.77. Its current yield is 0.89%, and its annualized dividend is US$0.52.

The 52-week highest and lowest stock prices were US$74.04 and US$21.62, respectively. Its trading volume was 20,112,550 on July 18.

The company will report its Q2, FY22, financial results on August 3, at 1 pm ET.

In Q1, FY22, its total revenue and other income were US$8.53 billion, and its net income was US$4.87 billion, or US$4.65 per diluted share.

Devon Energy Corporation (NYSE: DVN)

Devon Energy is a natural gas liquids firm that specializes in hydrocarbon exploration in the US. The company is based in Oklahoma City, Oklahoma.

The stock of the company traded at US$56.43 at 1:11 pm ET on July 19, up 3.31% from its previous closing price. The DVN stock jumped 19.86% YTD.

The company's market cap is US$37.24 billion, the P/E ratio is 10.6, and the forward one-year P/E ratio is 6.04. Its current yield is 9.64%, and its annualized dividend is US$5.08.

The stock touched the highest price of US$79.40 and the lowest price of US$24.05 in the last 52 weeks. Its share volume on July 18 was 11,090,450.

Devon will report its second quarter fiscal 2022 earnings results on August 1, after the market closes.

Meanwhile, in the first quarter of fiscal 2022, its total revenue was US$3.81 billion, and its net earnings came in at US$995 million.

Top oil & gas stocks: XOM, CVX, OXY, DVN, PSX,

Phillips 66 (NYSE: PSX)

Phillips 66 is an energy firm that focuses on manufacturing and logistics operations with midstream, chemicals, and refining businesses. It is based in Houston, Texas.

The shares of the company traded at US$84.99 at 1:16 pm ET on July 19, up 2.71% from their closing price of July 18. Its stock value added 9.26% YTD.

The firm has a market cap of US$40.88 billion, a P/E ratio of 14.82, and a forward one-year P/E ratio of 5.71. Its current yield is 4.75%, and its annualized dividend is US$3.88.

Its 52-week highest and lowest stock prices were US$111.28 and US$63.19, respectively. Its trading volume was 2,709,757 on July 18.

Phillips 66 is due to report its Q2, FY22, earnings results on July 29.

Meanwhile, in Q1, FY22, its total revenue and other income were US$36.72 billion, and its attributable net income came in at US$582 million, or US$1.29 per diluted share.

Bottom line:

The S&P 500 energy index rose 45.02% over the past 12 months while increasing 26.45% YTD.

Even though the sector has flourished in recent months, some analysts argue that it could act as a double-edged sword, as seen in early 2020 when crude prices crashed. Some investors are also concerned that the oil industry could witness a similar scenario like 2008 and 2009, when oil prices reached their all-time high before collapsing when the US economy crashed.

Hence, investors should closely evaluate the companies before spending on the stocks.

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