5 Energy Stocks To Put On Your Radar Today
As prices of oil and natural gas remain, this could be a great time to take a closer look at
energy stocks
. Prior to the Russia-Ukraine war, energy prices were already on the rise thanks to supply chain woes. And since the Russian invasion of Ukraine, prices have spiked even further. Moreover, as economies start kicking back into full swing, energy demand will likely outpace supply. These factors tied together have made the energy sector one of the winning stock market sectors in 2022 thus far.
Investors keen on energy stocks could consider energy big shots such as
Marathon Oil
(
NYSE: MRO
) and
ExxonMobil
(
NYSE: XOM
). The two companies have been on a bullish run in the past year, with their stock rising about 164% and 58% respectively. Besides that, just yesterday, Marathon just beefed up its supply of Ecuadorian crude oil. The company offered a $0.75 premium over the price marker for nearly 8 million barrels for Ecuador’s Oriente. Elsewhere, ExxonMobil last week invested another $10 billion in Guyana’s oil boom. Specifically, the oil giant decided to invest in the Yellow Tail offshore development. With that being said, check out these five energy stocks in the
stock market
today.
Energy Stocks To Buy [Or Sell] Right Now
-
Halliburton Company
(
NYSE: HAL
) -
Plug Power Inc.
(
NASDAQ: PLUG
) -
Ormat Technologies Inc.
(
NYSE: ORA
) -
First Solar Inc.
(
NASDAQ: FSLR
) -
Chevron Corporation
(
NYSE: CVX
)
Halliburton Company
Halliburton
is one of the world’s largest providers of products and services for the ever-evolving needs of the energy industry. It serves both national and independent oil and natural gas companies throughout the world. In essence, it offers a broad array of products and services to upstream oil and gas customers worldwide through 14 product service lines. In the past year, HAL stock has grown more than 100% in price. Yesterday, the company announced results for its first quarter of 2022 which beat estimates on earnings and revenue.
For starters, the total revenue came in at $4.3 billion this quarter, a healthy 24% jump from $3.5 billion in the same period last year. Halliburton pulled in a net income of $263 million, or $0.29 per diluted share. This represents an impressive increase compared to first-quarter 2021 earnings of $170 million, or $0.19 per diluted share. CEO Jeff Miller added, “
I am pleased with Halliburton’s first-quarter results. Our performance demonstrated the resilience of our unique strategy in action and the importance of our competitive positioning both in North America and international markets.”
Given the quarterly results, is HAL stock a buy?
Plug Power
Following that, we have
Plug Power
. It is a provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. In fact, its innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in power, energy, and transportation. Impressively, the company has created the first commercially viable market for HFC technology and has now deployed over 50,000 fuel cell systems for e-mobility across the globe.
Just yesterday, retail giant
Walmart
(
NYSE: WMT
) agreed to buy green hydrogen from Plug Power. For those unaware, green hydrogen is stripped from water using renewable power and used as a fuel without pumping carbon dioxide into the sky. Accordingly, the green hydrogen will be used to fuel its forklifts across its numerous facilities and distribution centers. Down to the numbers, Plug Power will be supplying Walmart with up to 20 tons of hydrogen per day to fuel as many as 9,500 forklifts. This purchase comes as the retailer looks to eliminate all greenhouse gas emissions by 2040. Financial details of the supply deal weren’t disclosed. Taking into consideration this purchase, should you be keeping tabs on PLUG stock?
Ormat Technologies
Ormat
is a company that mainly engages in delivering renewable power and energy solutions to its customers. The company’s expertise lies in providing energy solutions that come from geothermal power and recovered energy. Ormat is a geothermal industry leader that has supplied power-generating equipment for customers in over 30 countries. Apart from that, it also has expertise in energy storage solutions.
Last week, Ormat announced that it has signed a 15-year power purchase agreement with Peninsula Clean Energy, a Community Choice Aggregator (CCA). Peninsula provides more than 3,500 gigawatt-hours of electricity to San Mateo County and the City of Los Banos. Under the terms of the agreement, Peninsula will purchase 26 megawatts of clean, renewable energy from Ormat’s Heber 2 geothermal facility located in Imperial Valley, California. Notably, this agreement also marks the successful completion of Ormat’s first-ever solicitation for bids. All things considered, should you add ORA stock to your watchlist?
[Read More]
Top Stock Market News For Today April 20, 2022
First Solar
First Solar
is a leading solar technology company. For the most part, it engages in the manufacture of solar panels and utility-scale photovoltaic (PV) power plants. Besides that, it is a global provider of sustainably produced eco-efficient solar modules. The company’s advanced thin-film photovoltaic (PV) modules represent the next generation of solar technologies. As such, it serves as a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels.
On April 12, the company announced that it has signed a supply agreement with Silicon Ranch, one of the largest independent power producers in the U.S. Namely, the agreement entails the supply of 4 gigawatts of advanced, responsibly-produced thin-film photovoltaic (PV) solar modules to Silicon Ranch. Being one of Solar First’s biggest deals, it expects to deliver the modules to Silicon Ranch by 2023 to 2025. All in all, this deal will help advance the renewable energy transition in the U.S. while supporting American solar manufacturing growth. Given this agreement, should you invest in FSLR stock?
Chevron
Last but not least, we have
Chevron
to sum up the list. In detail, the energy giant operates through two business segments, Upstream and Downstream. On one hand, the Upstream segment primarily consists of exploring for, developing, and producing crude oil and natural gas. On another hand, the Downstream segment consists primarily of refining crude oil into petroleum products and marketing them. Over the past year, CVX stock has risen nearly 70%.
At the start of the month, Chevron announced that it has closed its acquisition of the NEXBASE brand from Neste Corporation. Chevron will also acquire its associated qualifications and approvals, and related sales and marketing business. In addition, Chevron will maintain all current supply sources utilizing long-term offtake agreements. All in all, this brand acquisition will help strengthen Chevron’s position as a leading supplier of premium base oils to customers globally. With this completed brand acquisition, should you be watching CVX stock?
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