The COVID-19 crisis battered the oil and gas industry. According to energy consultant Wood Mackenzie, the global investment in oil and gas production is forecasted to remain below pre-pandemic levels until 2025. And as travel restrictions ease, road fuel will lead the global oil recovery this year. The International Energy Agency (IEA) is optimistic that the demand for oil and gas will continue to grow given the rapid economic recovery. Gas and oil companies are starting to adjust for and prioritize net-zero greenhouse emissions. The servers decrease greenhouse gas emissions equal to level zero-emission wind. Oil and gas companies are starting to turn to tech giants to support streamlining processes and increase productivity. In February 2021, Chevron Corporation launched its $300 million Future Energy Fund II, progress from Future Energy Fund in 2018. Hedge fund sentiment means the number of hedge funds bullish on a stock.
With that background, Insider Monkey presents The Top 10 Oil and Gas Stocks to Invest in. The American multinational energy company Phillips 66 ranks 10th on the list. The company is an energy manufacturing and logistics company that has over 400,000 fractionation capacity at Sweeny. The new station exemplifies Phillips 66’s continuing attempts to elevate its fuel brands, including Conoco and 76, JET, and JET and Coop. Long-term, the analyst argues that Phillips 66’s “diversified” portfolio base offers “secular advantages” and that the market currently represents an acceptable risk profile for the stock. Hess Corporation is ranked 9th on the list. The company was formed by a merger in 1968 of Hess Oil and Chemical and Amerada Petroleum. It is an independent energy company that focuses on the generation of crude oil and natural gas. Ranking 8th on the top 10 oil and gas stocks to invest in is Diamondback Energy, Inc. The company expects net oil output of 360,000 to 370,000 barrels of oil equivalent per day in 2021, up from earlier estimates of 308,000 to 325,000 barrels. Ranking 7th on the top 10 oil and gas stocks to invest in is Valero Energy Corporation. The company has a market cap of $28.9 billion and offers a dividend yield of 5.41%—Valero Energy Corporation’s full-year revenue was at $64.9 billion in 2020. Houston, Texas-Based liquified natural gas company Cheniere Energy, Inc. ranks 6th. The company operates through two segments: LNG terminal business and LNG and natural gas marketing business. Click to read The Top Oil and Gas Stocks to Invest in.
