5 Energy Stocks Powering Up

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energy stocks - 5 Energy Stocks Powering Up

Source: Riccardo Annandale Via Unsplash

U.S. equities are extending their recent strength on Monday thanks to a solid January payroll report (304,000 new jobs vs. the 160,000 expected) and the ongoing warm fuzzies from the Federal Reserve’s dovish tilt this week. That’s weakening the U.S. dollar, which in turn, is helping lift commodity stocks.

Energy stocks are a big beneficiary and quickly becoming some of the best stocks to invest in now. In fact, the Energy Select SPDR (NYSEARCA:XLE) is rising up and over its January resistance levels to return to prices not seen since early December — marking a 22% rise off of its recent low. A run to the 200-day moving average, which looks likely now, would be worth a gain of roughly 8% from here.

A number of energy stocks in the industry group are looking good for new money. Here are five of the best stocks to invest in the energy sector now.

Exxon Mobil (XOM) best energy stocks to invest in

Exxon Mobil (XOM)

Shares of Exxon Mobil (NYSE:XOM) are surging higher on Friday, up 3.3% in a cut above XOM’s 50-day moving average, capping a gain of roughly 17% off of its late December lows. The company reported earnings of $1.41 per share, 33 cents ahead of estimates on $71.9 billion in revenue. CEO Darren Woods told CNBC that streamlining operations has improved results and that he expects profits, even if oil prices remained low — with their Permian basin operation in the green below $50-a-barrel.

When the company last reported on Nov. 2, earnings of $1.46 beat estimates by 24 cents on a 25.4% rise in revenues.

Chevron (CVX) best energy stocks to invest in

Chevron (CVX)

Chevron (NYSE:CVX) shares are also on the move, rising 3.5% to move up and over their 200-day moving average thanks to a solid earnings report. Earnings of $1.85 beat estimates by 6 cents on a 10.76% rise in revenues. Upstream revenues, net of last year’s tax change benefit, grew from $360 million to $964 million.

When the company last reported on Nov. 2, earnings of $2.11 beat estimates by 5 cents on a 21.5% rise in revenues.

ConocoPhillips (COP) best energy stocks to invest in

ConocoPhillips (COP)

Shares of ConocoPhillips (NYSE:COP) are rising above their 200-day moving average, capping a rise of more than 21% off of their recent lows. The company reported results on Thursday, with earnings of $1.13 per share beating estimates by 12 cents. This good news follows a series of analyst upgrades back in December from the likes of Wolfe Research and Tudor Pickering.

The company will next report results on May 2 before the bell.

Hess (HES) best energy stocks to invest in

Hess (HES)

Shares of Hess (NYSE:HES) the mid-size exploration and production company, are extending away from their 50-day moving average to close in on resistance from its 200-day average not tested since early November. Shares have been mired in a sideways bottoming pattern since 2015. Watch for a run at the prior high set in early October, which would be worth a gain of nearly 40% from here.

The company will next report results on May 1 before the bell. Analysts are looking for a loss of 18 cents per share on revenues of $1.4 billion. When the company last reported on Jan. 30, a loss of 31 cents per share beat estimates by 7 cents on a 30.3% rise in revenues.

Devon Energy (DVN) best energy stocks to invest in

Devon Energy (DVN)

Shares of Devon Energy (NYSE:DVN) are consolidating above their 50-day moving average, setting up a possible run at the 200-day average that was last touched back in October. Analyst sentiment has been mixed, with upgrades form the likes of CapitalOne and downgrades by Johnson Rice and others. But with the wind at its back, and the benefit of an inverse head-and-shoulders reversal pattern developing, an upside extension looks likely.

The company will next report results on Feb. 19 after the close. Analysts are looking for earnings of 31 cents per share on revenues of $2.1 billion. When the company last reported on Nov. 6, earnings of 63 cents per share beat estimates by 21 cents on a 33.4% rise in revenues.

As of this writing, William Roth did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/energy-stocks-powering-up-today/.

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