Top Energy Stocks For 2019
- Posted on December 05, 2019
- Stock Market
- By admin admin
The energy
sector is made up of stocks that
are related to the production and supply of energy around the world. The sector
comprises upstream firms that are involved in the exploration and production of
oil or gas reserves, such as EOG Resources Inc. (EOG). Also in the sector are downstream
companies that refine and process
oil and gas products for delivery to consumers, including HollyFrontier Corp. (HFC).
As contained in a report by the Energy Select
Sector SPDR ETF (XLE), the energy sector has declined by
11.8% in the trailing 12-month period. This is far behind the S&P 500,
which has climbed by 16.3% in the same time. All figures are as of November 18,
2019.
Notwithstanding the decline experienced in the
energy, we will be looking at some energy stocks that performed well in 2019 in
this article.
Devon
Energy Corp. (NYSE: DVN)
Current stock price: $21.41
Devon Energy is an upstream oil company that is
focused on the exploration and development of oil and gas resources. Devon
Energy focuses its efforts primarily in the central United States. In a Q3 2019
earnings report on November 5, 2019, Devon Energy reported a significant
decrease in profit on an annualized basis, owing in large part to the sale of
its position in pipeline operator EnLink Midstream in 2018.
ConocoPhilips
(NYSE: COP)
Current stock price: $58.89
One of the largest energy companies in the
country, ConocoPhillips is involved in the exploration, production,
transportation, and marketing of crude oil, natural gas, and related products.
In a recent earnings call, ConocoPhillips revealed that, in spite of a major
stock buyback program, the company is heavy in cash and short-term investments.
As of the end of the most recent quarter, ConocoPhillips had about $8.4 billion
in these areas, which may help it to pivot toward a greater focus on renewable
energy.
Cimarex
Energy Co. (NYSE: XEC)
Current stock price: $45.41
Upstream company Cimarex Energy is also focused
on oil and gas exploration. Like Devon Energy, Cimarex focuses its operations
primarily in the central U.S. Cimarex recently posted Q3 2019 earnings per
share, which was below analyst expectations and down more than 50% from the prior
year. Q3 revenue was down year-over-year as well, although Cimarex did beat
analyst expectations for the most recent quarter.
Kinder
Morgan Inc. (NYSE: KMI)
Current stock price: $19.15
Kinder Morgan focuses on midstream oil
services, meaning it owns and control pipelines used to transport various gas
and oil products. Kinder Morgan's operations are active across more than 150
terminals connected by some 85,000 miles of pipeline. This network may soon
grow in size as Kinder Morgan works to finalize
a deal to purchase Southcross
Energy's pipeline system.
Baker
Hughes Co. (NYSE: BKR)
Current stock price: $21.32
Baker Hughes is one of the largest oil field
services companies in the world. This firm provides other energy companies with
products related to exploration, drilling, and production. Formerly traded
under BHGE, in October Baker Hughes changed
its name to Baker Hughes Co. and
began trading on the New York Stock Exchange under the symbol BKR.
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