The Integrated Gas, Renewables & Power segment engages in the LNG production, shipping, trading and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services.
The Refining & Chemicals segment refines petrochemicals, including olefins and aromatics; and polymer derivatives, such as polyethylene, polypropylene, polystyrene and hydrocarbon resins, as well as biomass conversion and elastomer processing. This segment also engages in trading and shipping crude oil and petroleum products.
The Marketing & Services segment produces and sells lubricants; supplies and markets petroleum products, including bulk fuel, aviation and marine fuel, special fluids, compressed natural gas, LPG and bitumen; and provides fuel payment solutions. It operates approximately 15,500 service stations.
Investors receive a 4.51% dividend. BofA Securities has set an $80 price target, while the consensus target is $64.24. TotalEnergies stock closed trading on Tuesday at $51.83.
Valero Energy
This Wall Street favorite is a solid energy play for conservative investors looking for safer ideas. Valero Energy Corp. (NYSE: VLO) is one of the largest independent petroleum refining and marketing companies in the United States. It is based in San Antonio, Texas; owns 13 refineries in the United States, Canada and Europe; and has a total throughput capacity of around 2.5 million barrels per day.
The company also is a joint venture partner in Diamond Green Diesel, which operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant.
Valero sells its products in the wholesale rack or bulk markets in the United States, Canada, the United Kingdom, Ireland and Latin America. Approximately 7,400 outlets carry Valero’s brand names.
The dividend yield is 3.60%. The Wells Fargo price target is $166. The consensus target is $136.01. Valero Energy stock saw a gain of more than 4% on Tuesday, closing at $110.67.
These eight energy sector giants can continue to profit from elevated energy prices and offer investors who are more conservative a way to play the sector. With everything from the world’s largest integrated energy giants to one of the biggest refining companies, these are eight ways to generate income and participate in the ongoing biggest rally in the energy and oil space since 2011.
Note that all these companies posted some of the biggest profits in the second quarter of any sector. While some may howl and scream about windfall profits taxes, nobody stepped in when oil plunged to under $20 a barrel in April of 2020, when Exxon lost $20 billion and when oil futures were literally trading negative.
Originally posted at 24/7 Wall St.
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