Wednesday, October 2, 2024

Oil Stocks

Here are some of the best performing oil stocks as of October 2024:


## Top Oil Stock Performers


**Integrated Oil Companies:**

- Exxon Mobil (XOM): 17.2% return in 2024[1]

- Chevron (CVX): Trading at a 16% discount to fair value estimate[2]


**Exploration & Production:**

- Diamondback Energy (FANG): 11.2% return in 2024[1]

- Marathon Oil (MRO): 10.2% return in 2024[1]

- Hess: Trading at a 25% discount to fair value estimate[2]


**Refining:**

- Marathon Petroleum (MPC): 9.8% return in 2024[1]

- HF Sinclair: Trading at a 30% discount to fair value estimate[2]


**Oilfield Services:**

- SLB (formerly Schlumberger): Trading at a 31% discount to fair value estimate[2]

- Halliburton: Trading at a 23% discount to fair value estimate[2]


**Pipeline & Infrastructure:**

- Targa Resources (TRGP): 70.4% return in 2024[1]

- The Williams Companies (WMB): 31.1% return in 2024[1]

- ONEOK (OKE): 29.8% return in 2024[1]

- Kinder Morgan (KMI): 25.3% return in 2024[1]


## Factors to Consider


When evaluating oil stocks, it's important to consider:


1. Market conditions and oil prices

2. Company-specific factors like balance sheet strength and dividend yield

3. Diversification within the energy sector

4. Long-term industry trends, including the shift towards renewable energy


Remember that past performance doesn't guarantee future results, and the energy sector can be volatile. It's advisable to conduct thorough research or consult with a financial advisor before making investment decisions.


Citations:

[1] https://www.bankrate.com/investing/best-performing-energy-stocks/

[2] https://www.morningstar.com/stocks/best-energy-stocks-buy

[3] https://www.nerdwallet.com/article/investing/oil-stocks

[4] https://finance.yahoo.com/u/yahoo-finance/watchlists/oil-and-gas-stocks?guccounter=1

[5] https://www.kiplinger.com/investing/stocks/the-best-oil-stocks-to-buy-now-according-to-the-pros

[6] https://www.zacks.com/stocks/industry-rank/industry/oil-and-gas-integrated-united-states-137

[7] https://www.forbes.com/advisor/investing/best-oil-stocks/

[8] https://money.usnews.com/investing/slideshows/best-oil-and-gas-stocks-to-buy