In this article, we will discuss the 5 best energy stocks for 2022. If you want to read our comprehensive analysis of the energy industry, go directly to 12 Best Energy Stocks for 2022.
5. Cheniere Energy, Inc. (NYSE:LNG)
Number of Hedge Fund Holders: 52
Cheniere Energy, Inc. (NYSE:LNG) stands at the 5th position in our list of the best energy stocks for 2022. Cheniere Energy, Inc. (NYSE:LNG) is an energy infrastructure company primarily engaged in LNG-related businesses. Cheniere Energy, Inc. (NYSE:LNG) is headquartered in Houston.
Recently, Barclays analyst Marc Solecitto boosted the firm’s price target on Cheniere Energy, Inc. (NYSE:LNG) to $160 from $131 and maintained an ‘Overweight’ rating on its shares. Similarly, considering the growing demand for liquefied natural gas RBC Capital analyst Elvira Scotto expected that the company might grow beyond Corpus Christi Stage 3. Scotto also raised her EPS view of the company for the financial year 2022 to $12.14 from $8.40.
4. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 53
Chevron Corporation (NYSE:CVX) is the second-largest American energy company with its headquarters in San Ramon, California. The organization was founded in 1879 and currently, it is operational in more than 180 countries worldwide. Chevron Corporation (NYSE:CVX) specializes in the production of oil and gas.
Citing the organization’s low exposure to Russia than its competitors and the high oil and gas prices in the foreseeable future, UBS analyst Luiz Carvalho has raised the price target on Chevron Corporation(NYSE:CVX) to $192 from $150. Luiz Carvalho has maintained a ‘Buy’ rating on the shares of Chevron Corporation (NYSE:CVX).
Chevron Corporation(NYSE:CVX) is a dividend aristocrat as it has consecutively increased its dividend during the last 34 years.
3. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 55
NextEra Energy, Inc. (NYSE:NEE) is an electric power and energy infrastructure company. The company was founded in 1984 with its headquarters in Juno Beach, Florida. NextEra Energy, Inc. (NYSE:NEE) is the world’s largest producer of wind and solar energy. It is also the world’s largest utility company. With a market capitalization of $160.122 billion, the company is America’s largest capital investor in infrastructure. NextEra Energy, Inc. (NYSE:NEE) was ranked No.1 in the electric and gas utility industry on Fortune’s 2022 list of “World’s Most Admired Companies”.
The organization received positive ratings from many analysts during the first quarter of 2022. Recently, Wells Fargo analyst Neil Kalton raised the price target on NextEra Energy, Inc. (NYSE:NEE) to $107 from $102 and gave it an Overweight rating. Similarly, KeyBanc analyst Sophie Karp upgraded NextEra Energy, Inc. (NYSE:NEE) to ‘Overweight’ from Sector Weight with a price target of $87.
2. ConocoPhillips (NYSE:COP)
Number of Hedge Fund Holders: 56
ConocoPhillips (NYSE:COP) takes the second position in our list of the best energy stocks for 2022. ConocoPhillips (NYSE:COP) is a Texas-based American multinational corporation engaged in the exploration and production of oil and gas. Having a market capitalization of $133 billion, the organization is a big name in the global oil and gas industry. Currently, it has its operations in 14 countries spanning different regions of the world including North America, Europe, the Middle East, Africa, and the Asia Pacific.
On April 20, Scotiabank analyst Paul Cheng upgraded ConocoPhillips (NYSE:COP) to Outperform from Sector Perform with a price target of $115. Similarly, analysts at Barclays and Mizuho have raised their price targets and given ‘Overweight’ and ‘Buy’ ratings to ConocoPhillips (NYSE:COP) respectively.
1. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 71
Exxon Mobil Corporation (NYSE:XOM) occupies the top slot in our list of the best energy stocks for 2022. Exxon Mobil Corporation (NYSE:XOM) is the largest non-government-owned energy company in the world. The Texas-based energy giant was formed in 1999 after the merger of two corporations named Exxon and Mobil. The core business of Exxon Mobil Corporation (NYSE:XOM) is the exploration and production of crude oil and natural gas. In addition to this, the organization also manufactures and trades petroleum products.
Barclays’ analyst Jeanine Wai has raised the price target on Exxon Mobil Corporation (NYSE:XOM) from $91 to $98 while maintaining the ‘Overweight’ rating on its shares. On April 21, RBC Capital analyst Biraj Borkhataria upgraded the rating on Exxon Mobil Corporation (NYSE:XOM) to ‘Outperform’ from ‘Sector Perform’.
You can also take a peek at 11 Best Renewable Energy Stocks to Buy Right Now and 10 Best Blockchain Stocks To Buy in 2022.
