ConocoPhillips
This large-cap company also offers strong value for investors, and it reports earnings Wednesday. ConocoPhillips (NYSE: COP) explores for, produces, transports and markets crude oil, bitumen, natural gas, LNG and natural gas liquids (NGLs) worldwide.
Conoco’s portfolio includes resourceich North American tight oil and oil sands assets; lowerisk legacy assets in North America, Europe, Asia and Australia; various international developments; and an inventory of conventional and unconventional exploration prospects.
Many Wall Street analysts feel Conoco can accelerate growth from a reloaded portfolio depth in the Bakken and Eagle Ford with visibility on future growth from a sizable position in the Permian.
Investors receive a 2.16% dividend. Barclays has a $142 price target for ConocoPhillips stock. The consensus price target is $125.34, and shares ended Monday trading at $85.07.
Devon Energy
This may be one of the best value propositions in the sector, as it uses a variable dividend strategy. Devon Energy Corp. (NYSE: DVN) is an independent energy company that primarily engages in the exploration, development and production of oil, natural gas and NGLs in the United States and Canada. It operates approximately 19,000 wells.
The company also offers midstream energy services, including gathering, transmission, processing, fractionation and marketing to producers of natural gas, NGLs, crude oil and condensate through its natural gas pipelines, plants and treatment facilities.
Production is weighted toward crude oil while growth opportunities are liquids focused, anchored by the Delaware Basin, SCOOP/STACK, Eagle Ford Shale, Canadian Oil Sands, and the Barnett. Devon also owns equity in the publicly traded midstream MLP EnLink.
Shareholders receive a 6.59% dividend. The $103 Truist Financial target price is well above the $79.17 consensus target. Devon Energy stock closed on Monday at $54.62.
EOG Resources
This leading energy company is one of the top ideas now across Wall Street. EOG Resources Inc. (NYSE: EOG) explores for, develops, produces and markets crude oil, and natural gas and NGLs.
The company’s principal producing areas are in New Mexico and Texas and in the Republic of Trinidad and Tobago. As of December 31, 2021, it had estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves, 829 MMBbl of natural gas liquid reserves and 8,222 billion cubic feet of natural gas reserves.
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