Riding The $100-Oil Wave: 5 U.S. Energy Stocks With 20% Potential Upside

Could the price of oil potentially reach $100 per barrel? This question is currently at the forefront of investors’ minds in the current market landscape with WTI oil trading around $92 per barrel and Brent oil sailing above $95.

This psychological milestone could be a cause for concern for a significant portion of the economy, particularly those heavily reliant on energy prices, as well as consumers who would bear the brunt of further gasoline price increases at the pump.

As is often the case with economic shocks, there are winners as well. Energy companies, oil producers, refineries and crude-related businesses involved in storage and transportation can clearly benefit from the surge in oil prices.

Read Also: Is $100 Oil On The Horizon? Industry Experts Say Yes, Here’s Why

Following the recent substantial price hikes — oil has seen a more than 30% increase since mid-June 2023 — many oil-related stocks have already factored in this rise, aligning with the median target prices set by Wall Street analysts.

Oil giants like Exxon Mobil Corp. XOM, Chevron Corp. CVX and ConocoPhillips COP presently show only minimal projected upside potential, based on the actual median analyst target for each of these stocks.

On the contrary, the following five stocks retain untapped growth potential, with the market potentially underestimating the recent surge in oil prices. Their Wall Street median target prices are at least 20% higher than their current prices, presenting an attractive prospect for investors in search of value within the energy sector.

5 U.S. Oil Firms with 20% Growth Potential

5) APA Corporation

• Description: APA Corp. APA is a global energy company with a focus on exploration, production, and development of oil and natural gas properties worldwide. It is dedicated to advancing innovative and sustainable energy solutions.
• Sector: Energy
• Industry: Oil and gas exploration and production
• Performance (3-month): 24%
• Performance (year-to-date): -7%
• P/E ratio (next 12 months): 8.2x
• Median Analysts Price Target (% above current prices): 19.5%

Read Also: APA Stock, Analyst Ratings, Price Targets, Predictions

4) Genesis Energy L.P.

• Description: Genesis Energy L.P. GEL is a master limited partnership that provides a range of services, including pipeline transportation, refinery services and more, primarily in the midstream energy sector.
• Sector: Energy
• Industry: Oil and gas midstream
• Performance (3-month): 10%
• Performance (year-to-date): 11%
• P/E ratio (next 12 months): 11.1x
• Median Analysts Price Target (% above current prices): 19.6%

Read Also: Genesis Energy Stock, Analyst Ratings, Price Targets, Predictions

3) Gulfport Energy Corporation

• Description: Gulfport Energy Corp. GPOR is an energy company engaged in the exploration, production and marketing of natural gas, crude oil and natural gas liquids.
• Sector: Energy
• Industry: Oil and gas exploration and production
• Performance (3-month): 9%
• Performance (year-to-date): 55%
• P/E ratio (next 12 months): 5.5x
• Median Analysts Price Target (% above current prices): 21.8%

Read Also: Gulfport Energy Stock, Analyst Ratings, Price Targets, Predictions

2) Marathon Oil Corporation

• Description: Marathon Oil Corp. MRO is an exploration and production company dedicated to the exploration, production, and marketing of crude oil and natural gas.
• Sector: Energy
• Industry: Oil and gas exploration and production
• Performance (3-month): 15%
• Performance (year-to-date): 0.6%
• P/E ratio (next 12 months): 8.9x
• Median Analysts Price Target (% above current prices): 22.7%

Read Also: Marathon Oil Stock, Analyst Ratings, Price Targets, Predictions

1) Northern Oil & Gas, Inc.

• Description: Northern Oil & Gas Inc NOG is an energy company specializing in the acquisition and development of oil and natural gas properties primarily in the U.S.
• Sector: Energy
• Industry: Oil and gas exploration and production
• Performance (3-month): 22%
• Performance (year-to-date): 33%
• P/E ratio (next 12 months): 5.2x
• Median Analysts Price Target (% above current prices): 24.7%

Read Also: Northern Oil & Gas Stock, Analyst Ratings, Price Targets, Predictions

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