The 7 Best Energy Stocks to Buy Right Now (2023)

Although oil prices are no longer at all-time highs, energy stocks remain attractive options for any portfolio.

After all, the world's demand for energy will continue to grow. Earth's population is increasing. Emerging and frontier markets are using the web to grow their economies and integrate into the global economy.

The world's developed markets will not stand still: they will continue to use their position to boost GDP, and many will also seek to reduce reliance on fossil fuels and switch to green energy.

Energy stocks offer investors solid opportunities for growth and positive returns. Many companies also offer generous quarterly dividends or payments that investors can use as additional income or reinvest in their portfolios.

Portfolio Grader identifies these energy stocks as the best stocks to buy right now:

British Petroleum (BP)

pbpb, also known as BP, takes home the profits. The company earned $27.7 billion last year, a record for one-year company profit, as oil prices soared above $100 a barrel.

Today, oil costs less than $80 a barrel, but BP is still a cash cow. The company reported operating income of $55.71 billion in the first quarter on $12 billion in operating income. Earnings of $1.66 per share were well above analyst estimates of 24 cents per share.

BP expands its wings with the purchase of 40% of Harbor EnergyHerburyCarbon capture projects in the UK. Earlier this month, it completed the acquisition of American TravelCenters.

Still don't believe it? BP offers a huge dividend yield of 4.2%. He has a "B" rating on the Portfolio Grader.

shell (SHEL)

shellShellis another major oil and gas company with international influence. The company headquarters moves from The Hague to London.

It does not seem to be affected by the fall in oil prices. In fact, the company posted a record profit in the first quarter as higher LNG production offset lower oil costs.

Revenue for the quarter was $86.96 billion, while analysts had expected just $39.57 billion. Earnings per share also surprised at $1.39, compared with expectations of 86 cents per share.

Shell also announced that it would continue its aggressive share buyback program, committing to buy back shares worth $4 billion.

Shell also strongly supports renewable energy. The company plans to build the largest renewable hydrogen power plant in Europe, which is expected to come online next year.

SHEL shares have a dividend yield of 3.8% and a "B" rating on the Portfolio Grader.

ExxonMobil (XOM)

Kao BP y Shell, Exxon MobilXOMRecord profits are falling. Last year, it generated a record profit of $55.7 billion, the highest value ever for the company.

The good times of the first quarter didn't last long, and Exxon Mobil's first-quarter profit hit a record, more than doubling year-over-year. Exxon attributed the gain to continued production growth.

This was partly due to the launch of new offshore developments and refining facilities. Natural gas and oil production increased by nearly 300,000 barrels per day compared to last year.

ExxonMobil reported revenue of $11.43 billion and earnings per share of $2.79 for the quarter.

Exxon also held preliminary talks this spring to buy Pioneer Natural Resources.PXD... If they close the deal, it would be the biggest for the company since Exxon and Mobil merged nearly 25 years ago. This is definitely one of the energy stocks to watch out for.

XOM shares have a "B" rating on the Portfolio Grader.

Broome Energy (Bélgica)

Bloom Energy en CaliforniaYIt doesn't have the footprint or popularity of the top three stocks on this list. But don't ignore BE shares, which look set to rise.

Bloom builds, sells and installs oxide rigs that produce electricity and hydrogen. Its products help companies produce clean hydrogen-based products.

As I noted recently, Bloom is ready to use the support of the Deflation Act for the production of clean hydrogen.

The company is also making headway in the European market, an important development given that Europe is ahead of the US in adopting green alternatives. Bloom has partnered with energy services company Elugie to serve the clean fuel markets in Belgium, the Netherlands and Luxembourg.

With a price to sales ratio below 2 and a stock that has just recovered from a 27% drop, BE's stock is attractive to buy-and-hold investors. BE has a "B" rating on the Portfolio Grader.

Total Energy (TTE)

TotalEnergies is headquartered in FranceTTEis an energy company that operates in more than 130 countries around the world. It is the market leader in the supply of natural gas in Great Britain and has supplied electricity since 2001.

But most of his recent efforts have focused on renewable energy. TotalEnergies says it expects to spend more than 30% of its annual budget on decarbonized energy. Its goal is to become one of the top five solar and wind generators in the world by 2030.

First-quarter earnings included $58.23 billion in revenue and $2.61 in earnings per share, beating estimates of $50.16 billion in revenue and $2.50 in earnings per share.

TTE shares have a "B" rating on the Portfolio Grader.


ABB companyABBI work in the field of robotics, automation and electrical equipment. While the Swiss company is best known for its robotic systems, it is also involved in maintaining electrical grids, transmission and distribution systems.

Its electrification segment offers sustainable energy solutions for medium and low voltage platforms, electric vehicle infrastructure, solar inverters and more.

The company reported revenue of $7.86 billion in the first quarter, up 12.8% year-over-year. It also beat analysts' expectations for revenue and earnings per share.

The company, which plans to buy back up to $1 billion in shares over the next year, issued guidance for comparable double-digit revenue growth in the second quarter.

ABB's shares are rated 'B' on the Portfolio Grader.

Alliance Resource Partner (ARLP)

Alliance Resource PartnerARLPIt stands out on this list because it is a small-cap stock. Its market capitalization is just over $2 billion. That's not a lot of money, but it's less than many of the other names we've covered here.

However, I like Alliance because it is one of the largest coal producers in the eastern US, and coal is still a big part of the energy landscape for millions of people.

High coal prices mean big profits for ARLP and its shareholders. Revenue in the first quarter was $662.92 million, up 43% from a year ago.

Another great thing about Alliance Resources Partners is its structure. This is a limited company. This means that the alliance combines the tax benefits of a private company with the liquidity of a public company. The tax structure means above-average returns from dividends or regular payments. ARLP currently yields 14.6%.

ARLP shares are rated "B" on the Portfolio Grader.

As of press date, Louis Navellier was long in BP, SHEL, XOM and ARLP. Louis Navellier does not hold (directly or indirectly) any other position in the securities mentioned herein.

The InvestorPlace researchers primarily responsible for this article do not (directly or indirectly) hold any position in the stocks mentioned in this document.

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