This article looks at Retirement Stock Portfolio: 12 Energy Stocks to Consider.
Navigating Energy Markets: The Financial Pressures on Clean Energy and the Ongoing Role of Fossil Fuels
In 2023, the clean energy sector took the biggest hit, bearing the brunt of global tensions more than any other sector. Supply chain disruptions, the energy crisis following Russia’s invasion of Ukraine, and the subsequent rise in interest rates and inflation impacted all sectors within the natural resources industry. Meanwhile, traditional energy companies capitalized on strong demand and high fossil fuel prices.
Despite these significant challenges, the necessity of transitioning to clean energy has never been more urgent. This is because, without it, the world will suffer from drastic economic losses associated with climate change. According to Deloitte’s report, “Financing the Green Energy Transition: A US$50 Trillion Catch”, the need for collaboration in developing investment strategies is crucial. As such, the collective investment necessary to achieve the transformation to clean energy is between $5 trillion and $7 trillion per year globally through 2050. Even though the renewable sector is facing pressures on financing, global investment in clean energy is set to double the amount going to fossil fuels this year.
According to the International Energy Agency, for the first time in 2024, total energy investment worldwide is expected to exceed $3 trillion, with an estimated $2 trillion going to clean technologies. The remainder is set to go towards coal, oil, and gas. According to the report, the combined investment in renewable power and grids overtook the amount spent on fossil fuels for the first time in 2023. Even though it is improving, the world needs to catch up on investing in clean energy to make the transition successful.
While the importance of clean energy can not be stressed enough, oil and gas companies continue to play a crucial role in the global energy landscape. They are benefitting from high energy prices and increased demand for fossil fuels as the transition to renewables progresses. This sector remains vital for meeting the world’s immediate energy needs and providing stability in energy markets during the transition period. 2022 was especially a blissful year for them, with skyrocketing oil prices bringing in record profits for oil companies. Big Oil more than doubled its profits to $219 billion. Of course, shareholders were rewarded with substantial returns, with top Western oil companies paying a record $110 billion in dividends and share repurchases to investors in 2022.
While the year was as sparkling as it could ever be, the $70 to $80 per barrel oil prices in 2023 fell short of the above $130 per barrel peak driven by the conflict in 2022. While recent spikes in oil prices, such as those following Russia’s invasion of Ukraine, provided opportunities for stock buybacks and investor rewards, companies face long-term challenges. The shale revolution and the pandemic have already impacted oil profits, and future demand for fossil fuels remains unpredictable.
Despite current financial stability and unchanged borrowing costs, energy firms are cautious about expanding production due to these uncertainties. One way to transition to clean energy that can help such companies is by strategically investing in and developing renewable technologies, such as offshore wind, hydrogen production, and EV charging infrastructure. Leveraging existing expertise and financial strength to diversify their energy portfolios and focusing on customer-centric business models and capital excellence is the way to go.
For retirees, investing in energy stocks offers compelling value due to their stability and dividend potential. Dividend-paying stocks are the kind of stocks one should invest in for retirement as they offer a regular stream of income, as well as allow the principal to remain invested for potential growth. Even though the clean energy sector faces challenges such as financial pressures and investment needs, the overall energy market remains robust. The shift towards renewables is driving significant capital into clean technologies, with global investments in clean energy expected to double those in fossil fuels in 2024. This ongoing transition creates opportunities for stable returns from companies that are involved in both traditional and renewable energy sectors.
Methodology
To create this list, we looked through Insider Monkey’s Q2 2024 database and selected energy companies engaged in renewable energy, as well as those involved in the exploration, production, transportation, or distribution of oil and gas. From these companies, we chose the top 12 companies that provide consistent dividends to shareholders and play a key role in a retirement portfolio. Next, we ranked them in ascending order of the number of hedge funds having stakes in them at the end of Q2 2024.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
12. Chord Energy Corporation (NASDAQ:CHRD)
Chord Energy Corporation (NASDAQ:CHRD) is an independent exploration and production company in the United States involved in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy currently has a trailing dividend yield of 8.42% and a forward dividend yield of 8.42%, attracting investors’ attention. The company allocates over 75% of its free cash flow to dividends and buybacks, indicating a strong focus on returning value to shareholders
May 2024 marked the completion of the combination of Chord Energy Corporation (NASDAQ: CHRD) and Enerplus Corporation (NYSE: ERF) to create a “premier Williston Basin operator”. The company has had a strong second quarter owing to robust oil production and efficient cost management. This has resulted in an adjusted free cash flow of approximately $263 million in Q2 2024, which is higher than expected. During the three months ended June 30, 2024, net income was $213.4 million ($4.25 per diluted share), compared to $216.1 million in a year-ago period.
The quarter’s performance exceeded guidance, with better-than-expected performance and reduced downtime, contributing to strong financial results. Looking into the future, the company plans to maintain its capital expenditure plans while optimizing its development program, with an updated oil production forecast and continued investment in high-quality assets.
By the end of the second quarter of 2024, 56 out of the 912 hedge funds monitored by Insider Monkey held positions in Chord Energy Corp (NASDAQ:CHRD). The largest investment in Chord Energy Corp was made by Michael Rockefeller and Karl Kroeker’s Woodline Partners, which owned a $126.47 million stake in the company.
Here is what Madison Small Cap Fund stated regarding Chord Energy Corporation (NASDAQ:CHRD) in its first quarter 2024 investor letter:
“Our Energy underweight was also a slight drag, although we are optimistic about our singular investment in this sector with Chord Energy Corporation (NASDAQ:CHRD). During Q1 the company announced a strategic combination with Canadian-based Enerplus Corporation (TSX: ERF). Enerplus is one of, if not the best remaining assets in the Bakken and we are very constructive on the financial and strategic merits of this transformational deal. CHRD will become the largest operator in the Bakken, representing about 12% of the basin’s production. With a solid balance sheet post deal, CHRD will now be in the enviable position of either the basin’s main consolidator or most strategic asset as a target for larger E&P companies.”
11. NRG Energy, Inc. (NYSE:NRG)
An American energy company, NRG Energy, Inc. (NYSE:NRG) engages in the production, sale, and distribution of energy and energy services. It’s one of the largest retail energy providers in the US, serving more than 6 million customers. The independent power producer also boasts 13 gigawatts of coal, gas, and oil power generation capacity.
Since 2012, it has held a steady dividend payment track record and distributes dividends quarterly. As of September 6, its dividend yield was 2.09%. Expanding its operations through acquisitions, NRG Energy, Inc. (NYSE:NRG) has acquired companies such as Direct Energy and Vivint Smart Home over the years. As of 2023, the company reported $100 million in growth in its core businesses and more than $35 million in cost savings.
In the second quarter of 2024, NRG Energy, Inc. (NYSE:NRG) beat earnings expectations with a reported EPS of $1.48, while expectations were $1.3. The company’s GAAP net income was $738 million and Adjusted EBITDA of $935 million, compared to $308 million of GAAP net income and $819 million of adjusted EBITDA in the year-ago period.
The rise in income was mainly due to higher gains from economic hedges in Texas in 2024, owing to heat rate expansion in ERCOT. In 2023, there were losses in the East due to falling natural gas and power prices. This boost was partly offset by a loss from buying back the company’s 2.75% Convertible Senior Notes and higher income tax costs. Free cash flow before growth for NRG Energy came in at $663 million, $238 million higher than the prior year. This was driven by significant growth in adjusted EBITDA and favorable working capital.
At the end of the second quarter, 56 hedge funds tracked by Insider Monkey held stakes in NRG Energy, up from 44 in the previous quarter. Elliott Management is the largest shareholder in the stock having shares worth $806 million.
10. Occidental Petroleum Corporation (NYSE:OXY)
Occidental Petroleum Corporation (NYSE:OXY) is a Houston-based energy company involved in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. The three segments it operates through are oil and gas, chemical, midstream, and marketing.
Earlier this year, the company followed through on its commitment when it announced its CrownRock acquisition, raising its quarterly common dividend by over 22%. Free cash flow generation from CrownRock and anticipated profits from non-oil and gas segments of its portfolio gave the company confidence to increase its dividend. Occidental Petroleum Corporation (NYSE:OXY) has raised its dividend for three consecutive years, cutting it in 2020 amidst the negative impacts of COVID-19. Nevertheless, the company’s shareholder priority is to deliver sustainable and growing dividends to its investors in the years to come.
In addition to its $12 billion acquisition of CrownRock, Occidental has also been investing heavily in Carbon capture technology, a risky move that if successful, will help sustain the oil and gas industry. No wonder Warren Buffet bought shares in the company during Q2 2024, bringing Berkshire Hathaway‘s stake to over 255 million.
Occidental Petroleum Corporation (NYSE:OXY) has a trailing twelve-month (TTM) revenue of $27.12 billion. In 2023, the company generated a revenue of $28.26 billion, a decrease of 22.9% from the prior year. Net income and adjusted income attributable to common stockholders for the second quarter of 2024 was $1.0 billion, or $1.03 per diluted share. The company has also disclosed a free working cash flow before working capital of $1.3 billion and demonstrated a strong position to achieve an annual free cash flow of $5.2 billion. This improved working cash flow indicates the company’s positive operational health and financial stability.
At the end of the second quarter of 2024, the number of hedge funds with stakes in Occidental Petroleum Corporation (NYSE:OXY) increased to 62 from 61, with stakes collectively valued at over $185.20 billion.
9. Chevron Corporation (NYSE:CVX)
Chevron Corporation (NYSE:CVX) is an American multinational energy corporation engaged in integrated energy and chemicals operations in the US and internationally. It is one of the largest oil companies in the US.
The corporation is a member of the exclusive Dividend Aristocrats – a group of 68 elite dividend stocks with 25+ years of consecutive dividend increases. Earlier this year, Chevron Corporation (NYSE:CVX) delivered its 37th consecutive year of dividend increase, the second-longest current streak in the oil industry. It has had an annual dividend growth rate of 5.4% over the past three years. Given its strong cash flows, the stock is lucrative for income investors.
In the second quarter of 2024, Chevron Corporation (NYSE:CVX) reported a robust operating cash flow of $6.3 billion and a free cash flow of $2.3 billion. Leveraging this strong cash generation, the company returned $6 billion to shareholders through dividends and share repurchases, marking the ninth consecutive quarter of providing over $5 billion in shareholder returns. It has a trailing twelve-month (TTM) revenue of $197 billion. It has also had an impressive second quarter this year, with reported earnings of $4.4 billion and adjusted earnings of $4.7 billion.
Worldwide production rose by 11% from the year-ago period driven by the successful integration of PDC Energy, Inc. (PDC) and strong performance in the Permian and Denver-Julesburg (D.J.) Basins. At the end of the second quarter of 2024, 64 hedge funds tracked by Insider Monkey held stakes in Chevron Corporation (NYSE:CVX), having a total value of over $224.06 billion.
8. Cheniere Energy, Inc. (NYSE:LNG)
Cheniere Energy, Inc. (NYSE:LNG) is a Houston-based American liquefied natural gas company engaged in LNG-related businesses in the United States. It started paying dividends in 2021 and has been raising its dividends ever since. It is currently paying a quarterly dividend of $0.435 per share for a dividend yield of 0.96%, as of September 6.
In Q2 2024, revenue fell to $3.04 billion from $3.92 billion in the year-ago period, primarily due to lower natural gas prices. These natural gas prices have been down by an estimated 16% due to higher global inventories and lower demand forecasts. The company’s full-year profit forecast is below analyst expectations, but it maintains a constructive outlook for the rest of the year.
Back in June, Cheniere Energy, Inc. (NYSE:LNG) announced that its Board of Directors had approved an increase in its share repurchase authorization by an additional $4 billion through 2027, and also has plans to increase its quarterly dividend by approximately 15% to $2.00 per common share annualized from Quarter 3. These moves demonstrate the company’s robust cash flow generation as it continues to follow through on Cheniere’s ‘20/20 Vision’ capital allocation plan (the “Plan”). Zach Davis, Cheniere’s Executive Vice President and Chief Financial Officer, made the following comment about this:
“These increases reflect the continued follow through with our ‘20/20 Vision’ capital allocation plan, which is enabled by Cheniere’s outstanding financial performance, as well as our steadfast commitment to safety and operational excellence throughout our business. The new repurchase authorization will enable us to further reduce share count, and the increased dividend will enhance capital returns while retaining significant financial flexibility to fund accretive growth”.
At the end of June 2024, Cheniere Energy, Inc. (NYSE:LNG) was held by 65 hedge funds tracked by Insider Monkey with collective stakes worth $27.78 billion. Darlington Partners Capital is the largest shareholder of the company with stakes worth $264 million.
7. Schlumberger Limited (NYSE:SLB)
Schlumberger NV, also known as Schlumberger Limited, is an American oilfield services company. As of 2022, SLB has been the world’s largest offshore drilling company and the world’s largest offshore drilling contractor by revenue.
Schlumberger Limited (NYSE:SLB) has been paying dividends since 1994, with consistent dividend increases in the past three years. The current dividend yield for the company is 2.76% as of September 7. SLB shareholders received a quarterly dividend of $0.28 per share on June 05, 2024. It remains focused on generating strong cash flows to meet its commitment to return to shareholders.
As of Q2 2024, the company has demonstrated a strong quarterly performance. It beat earnings expectations with an EPS of $0.85, while expectations were $0.826. Revenue increased by 5%, while adjusted EBITDA grew 11%. It also generated $776 million of free cash flow. International revenue grew by 6% due to record-high performance in the Middle East and Asia, as well as strong results in deep water basins. The Gulf of Mexico led revenue growth in North America, albeit partially offset by weaker drilling in US land. Core divisions saw 4% sequential revenue growth and margin expansion, while Digital & Integration also achieved record quarterly growth.
Schlumberger Limited (NYSE:SLB) benefits from a robust clientele base, including major global oil corporations, Petrobras and Saudi Aramco. It is also set to benefit from oil majors ramping up production on economic growth, receiving a boost from lower interest rates. Moreover, it is also set to experience a strong resurgence of activity in the oil and gas business due to long-cycle development and capital expansion projects, supported by stable oil prices above $75 a barrel.
At the end of the second quarter, 67 hedge funds tracked by Insider Monkey held stakes in Schlumberger Limited (NYSE:SLB) having a total value of over $15.08 billion.
6. Constellation Energy Corporation (NASDAQ:CEG)
Constellation Energy Corporation (NASDAQ:CEG) is an American energy company providing electric power, natural gas, and energy management services. It generates and sells electricity in the United States, as well as sells natural gas, energy-related products, and sustainable solutions.
The company is dedicated to providing clean and affordable energy and is responsible for generating 10% of carbon-free clean energy consumed in the United States. This factor has had major tech giants looking towards renewables such as CEG to power their AI data center needs. Constellation recently made it to our list of 20 Under the Radar AI stocks. Morgan Stanley has projected that increasing electricity prices would favor companies like Constellation Energy Corporation (NASDAQ:CEG) in the coming months. Currently, it has an annual dividend of $1.41 per share and a dividend yield of 0.81%. CEG has been consistently increasing its dividends for the past two years.
Overall, it has reported impressive earnings for the second quarter. Second-quarter GAAP earnings were $2.58 per share and adjusted operating earnings were $1.68 per share. It is also raising its adjusted operating earnings guidance range, indicating a positive outlook on future performance. The company’s decision to revise guidance in Q2 instead of waiting for Q3 underscores its strong belief in its current performance and future potential. Constellation Energy Corporation (NASDAQ:CEG) repurchased $500 million worth of shares during the quarter, bringing the total buybacks for the year to $1 billion. There is also a strong potential for additional growth for the company stemming from expanding clean, reliable energy sources and selling to data center customers.
As of the second quarter, Constellation Energy Corporation (NASDAQ:CEG) was held by 71 hedge funds in Insider Monkey’s database, with stakes worth $37.82 billion in total. The largest shareholder in the company is Coatue Management, with shares worth $982 million.
5. ConocoPhillips (NYSE:COP)
Next on our list of the retirement stock portfolio is ConocoPhillips (NYSE:COP), which is an American multinational corporation involved in hydrocarbon exploration and production. It explores, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally.
As of September 6, the dividend yield for the stock stands at 3.32%. It has maintained a consistent dividend payment record since 1986. The company also intends to raise its ordinary dividend by 34% to 78 cents per share from the fourth quarter of 2024.
ConocoPhillips (NYSE:COP) has had a strong second quarter, beating earnings expectations with a reported EPS of $1.98, while expectations were $1.96. The revenue growth rate at the end of June 2024 was around 10.27%, with an increase in income due to rising production and higher oil prices. It produced 1,945,000 barrels of oil equivalent per day, representing 4% underlying growth year-over-year. It also generated $5.1 billion in cash flow from operations and returned $1.9 billion to shareholders through buybacks and dividends.
For Q3, the company expects production to range between 1.87 million and 1.91 million barrels per day. It has also received shareholder approval for its planned merger with Marathon Oil Corporation MRO, a transaction valued at $22.5 billion and including $5.4 billion in net debt, expected to close at the end of the fourth quarter of 2024. The acquisition will significantly enhance the company’s U.S. onshore portfolio.
According to Insider Monkey’s database of Q2 2024, there are 72 hedge funds bullish on ConocoPhillips (NYSE:COP), representing a collective value of $58.17 million.
4. NextEra Energy, Inc. (NYSE: NEE)
NextEra Energy, Inc. (NYSE: NEE) is an American energy company that, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. It generates electricity through wind, solar, nuclear, natural gas, and other clean energy.
Known to be an ultra-high-yield stock, NextEra Energy, Inc. (NYSE: NEE) has a dividend yield of 2.52% as of September 6. The company has maintained a consistent dividend payment record since 1986 and also increased its dividend each year for at least the past 29 years. This makes the stock a dividend aristocrat. With the demand for clean energy growing, NextEra Energy, Inc. (NYSE: NEE) has been expanding its capacity and business.
Its regulated utility business through Florida Power & Light (FPL) adds stability and reliable cash flow for NextEra Energy Inc. (NYSE:NEE). In Q2 2024, it beat earnings expectations with a reported EPS of $0.96, while expectations were $0.953. NextEra Energy, Inc. (NYSE: NEE) also expects to continue to grow dividends per share at roughly 10% per year through at least ‘26 off of 2024 base. Net income was also lower than expected due to lower segment sales and higher interest rates. Net income on a GAAP basis was reported to be $1.622 billion, or $0.79 per share, compared to $2.795 billion, or $1.38 per share, for the second quarter of 2023. Revenue for the quarter declined by 8.1% in its utility segment, partly due to low electricity rates.
ClearBridge Large Cap Growth Strategy stated the following regarding NextEra Energy, Inc. (NYSE:NEE) in its Q2 2024 investor letter:
“AI-related momentum was a key driver of performance in the second quarter, lifting the enablers in technology as well as holdings like renewable power producer NextEra Energy, Inc. (NYSE:NEE) that supply the increasing energy needs of data centers. Parts of the market lacking an AI connection, like our medical device holdings, underperformed despite no change to fundamentals. We have managed through several similar momentum periods over our tenure and have delivered long-term results for shareholders by staying true to an approach that emphasizes diversification across three buckets of growth companies (select, stable and cyclical) and seeks to take advantage of attractive entry points into quality growth businesses.”
At the end of the second quarter, the company was held by 73 hedge funds, with stakes worth $21.06 billion collectively.
3. Hess Corporation (NYSE:HES)
Hess Corporation (NYSE:HES) is an American global independent energy company that explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company has maintained a consistent dividend payment record since 1987. As of September 6, the dividend yield for Hess Corp is 1.39%. It recently announced that it has received approval from the board of directors to increase its quarterly dividend. The new dividend is 50 cents per share, reflecting an increase of 14.3% from the prior amount of 43.75 cents.
Hess Corporation (NYSE:HES) is being acquired by Chevron Corporation for a whopping $53 billion price tag. Hess believes that its shareholders will receive roughly four times higher dividends after the merger. Net income for the second quarter of 2024 was $757 million, or $2.46 per share, as compared to $119 million, or $0.39 per share, in the second quarter of 2023. Company-wide net production averaged 387,000 barrels of oil equivalent per day was well above their guidance of approximately 355,000 to 365,000 barrels of oil equivalent per day. Moreover, based upon a flat Brent oil price of $75 per barrel, the company’s cash flow is forecast to increase by approximately 25% annually between 2022 and 2027, more than twice as fast as their top-line growth. With free cash flow generation steadily increasing in future years, share repurchases are expected to represent a growing proportion of their return of capital.
At the end of the second quarter of 2024, the number of hedge funds with stakes in Hess Corporation decreased from 80 to 73, with stakes collectively valued at over $78.6 billion. The stock recently made it to our list of Goldman Sachs’ Best Hedge Fund Stock Picks: Top 20 Stocks.
2. Vistra Corp. (NYSE:VST)
A Texas-based Fortune 500 company, Vistra Corp. is an integrated retail electricity and power generation company. Vistra Corp. (NYSE:VST) recently made it to the top of our list of 10 Best Dividend Stocks of 2024. It has been raising its dividends since 2019, with dividends being distributed quarterly. Its trailing annual dividend yield is 1.12%, while a forward dividend yield of 1.19% suggests a positive outlook for its future dividend policy and possibly its overall financial health.
For the second quarter of 2024, Vistra Corp. (NYSE:VST) reported $467 million GAAP net income, down from $476 in the same quarter of the prior year. The decline in net income stems from higher depreciation and interest expense, albeit partially offset by operating income generated from the acquisition of Energy Harbor. Vistra is responding to rising clean electricity demand by expanding its emission-free energy production through solar, natural gas, and nuclear sources. The company is focused on strong earnings, disciplined capital allocation, and a sustainable energy future.
In their second quarter 2024 investor letter, Legacy Ridge Capital stated the following remarks regarding Vistra (NYSE:VST):
“One of the sectors we know well which had been out of favor for several years has quickly come into favor: Independent Power Producers (IPPs). We’ve written consistently about NRG and Vistra Corp. (NYSE:VST) since the 2019 letter, have owned each, or both, since 2018, and invested a meaningful amount of our assets in VST specifically the past few years. Nate and I intend on spending more time in the year-end letter on our updated views on the IPPs and our learnings from the on-going investment, but we were a bit surprised how quickly the narrative around these companies changed. Our Blue Sky 2030 estimates of intrinsic value converged with the share price 6-years before we thought probable.
Overall, Vistra Corp is an AI Stock You Should Not Have Missed. 92 of the hedge funds tracked by Insider Monkey are bullish on this stock at the end of Q2 2024, representing a collective value of $40.3 billion.
1. Exxon Mobil Corporation (NYSE:XOM)
ExxonMobil Corporation is an American multinational oil and gas corporation involved in the exploration and production of crude oil and natural gas in the United States and internationally. It is one of the best dividend aristocrat stocks tracked by Insider Monkey. Owing to the company’s strong profitability and financial stability, it has been gaining popularity amongst investors.
Its dividend yield has averaged 2.20% annually in the last five years. Moreover, the current yield for Exxon Mobil Corporation (NYSE:XOM) as of September 6 is 3.37%. Being a dividend aristocrat and demonstrating a positive dividend yield, it affirms a consistent shareholder return. Also recently making it to our list of 10 Best LNG Stocks to Buy Now, Exxon Mobil Corporation holds the first place on our list.
For the second quarter of 2024, Exxon Mobil Corporation (NYSE:XOM) beat earnings expectations with a reported EPS of $2.14, while expectations were $2.02. Its earnings of $9.2 billion have been the second-best second-quarter results in the last 10 years. The company also achieved record production in Guyana and the Permian Basin. With oil prices between $60 and $80 per barrel, Exxon expects $80 billion to $140 billion in surplus cash from 2024 to 2027, boosted by the Pioneer acquisition. Having generated $10.6 billion in operating cash flow and $9.5 billion in its free cash flow for the period, the company also demonstrates a solid cash position. Shareholder returns totaled $9.5 billion, comprising $4.3 billion in dividends and $5.2 billion in share buybacks.
At the end of the second quarter, 92 hedge funds tracked by IM were bullish on this stock, holding a collective value of $61.83 billion. All in all, Exxon is a key player in the oil and gas industry, which presents itself as an attractive option for those looking for a consistent source of income, especially in their golden years.
Overall, XOM ranks first among the top energy stocks to consider. While we acknowledge the potential of energy stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. Retirement Stock Portfolio: 12 Energy Stocks To Consider is originally published on Insider Monkey.
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