12 Best Oil Refinery Stocks To Invest In According to Analysts

8. TotalEnergies SE (NYSE:TTE)

Stock Upside Potential: 12.69%

With a presence in more than 130 countries around the world, TotalEnergies SE (NYSE:TTE) is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables, and electricity. The company is also actively involved in the refining business and has six refining and petrochemical platforms worldwide.

TotalEnergies SE (NYSE:TTE) displayed a better-than-expected performance in Q4 2024 as higher trading profits in the gas segment helped it offset some of the impact of low oil prices and weak fuel demand. The company reported an adjusted net income of $4.4 billion during the quarter, down 15% YoY but still beating market expectations by $200 million. The energy giant also launched several new major projects last year, including Mero 2 and 3 in Brazil, Akpo West in Nigeria, Anchor in the US, and Fenix in Argentina. Moreover, it kicked off four major oil projects in Suriname, Brazil, and Angola, while pushing forward on oil development in Namibia.

Despite the weaker pricing environment, TotalEnergies SE (NYSE:TTE) managed to generate $29.9 billion in funds from operations. The company remains committed to its shareholders and distributed $7.4 billion in dividends in 2024, in addition to executing $8 billion in share buybacks. Total increased its 2024 dividend by 7% to 3.22 euros per share, and confirmed share buybacks of $2 billion per quarter for 2025.

TotalEnergies SE (NYSE:TTE) also maintains a strong presence in the LNG business and is the largest LNG exporter in the US with more than 10 million tons under contract. Other than signing several new contracts with Azerbaijan, the French firm also launched the Marsa LNG project in Oman, and became a significant gas operator in Malaysia through the acquisition of a 100% stake in SapuraOMV, giving it access to LNG pricing exposure and a platform for future low cost, low carbon growth in terms of production.