Energy stocks are a type of equity securities that are issued by companies that are involved in the energy industry. Generally, energy stocks generally fall into one of three categories: oil stocks, gas stocks, or renewable energy stocks. First, oil stocks represent companies involved in the exploration, production, refining, or marketing of crude oil and petroleum products. Next, natural gas stocks represent companies involved in the exploration, production, refining, or marketing of natural gas and related products.
Lastly, renewable energy stocks represent companies involved in the development or production of solar, wind or other forms of renewable energy. For example, this would include companies like First Solar Inc. (NASDAQ: FSLR), and NextEra Energy (NYSE: NEE) to name a couple.
Moreover, energy stocks typically offer high dividend yields and are considered to be relatively volatile. For these reasons, energy stocks are often favored by investors who are looking for high returns. If this has you interested in looking at the energy sector, here are three energy companies for your stock market watchlist today.
Energy Stocks To Watch Right Now
- Enphase Energy Inc. (NASDAQ: ENPH)
- ConocoPhillips (NYSE: COP)
- Halliburton Company (NYSE: HAL)
1. Enphase Energy (ENPH)
First up, Enphase Energy (ENPH) is a multinational energy technology company. In brief, Enphase Energy delivers smart, easy-to-use solutions that manage solar generation, storage, and communication from one platform. Additionally, the company’s microinverter technology mainly serves the rooftop solar market and produces a fully integrated solar-plus-storage solution.
ENPH Recent Stock News
In July, Enphase reported better-than-estimated second quarter 2022 financial results. In the report, Enphase notched in earnings per share of $1.07, along with revenue of $530.2 million for the 2nd quarter of 2022. This is versus Wall Street’s consensus estimates, which were earnings of $0.82 per share, with revenue of $504.0 million. In addition to that. the company also announced updated guidance for the third quarter of 2022. Specifically, Enphase said it estimates revenue for the third quarter of $590 million to $630 million.
Separate from that, Enphase’s President and CEO, Badri Kothandaraman had this to say about the quarter, “Our microinverter shipments were up 18%, compared to the first quarter of 2022. Our IQ Battery shipments were up 10%, compared to the first quarter of 2022. Our quarterly revenue in the second quarter of 2022 was driven by strong demand for Enphase Energy Systems, powered by IQ® Microinverters and IQ Batteries. IQ8™ Microinverters constituted 37% of all our microinverter shipments during the second quarter.”
ENPH Stock Chart
Meanwhile, so far in 2022 shares of ENPH stock are up over 48% as of Friday’s trading session at $274.38 per share. With that in mind, will you be keeping Enphase Energy on watch today?
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2. ConocoPhillips (COP)
Next, ConocoPhillips (COP) is an American multinational energy corporation. For starters, the company is one of the world’s largest independent energy companies, with operations in more than 30 countries. Specifically, the company is engaged in the exploration, production, marketing, and transportation of oil and natural gas. As well as the manufacture and sale of petrochemicals.
COP Recent Stock News
On Thursday this week, the company announced it will announce its third-quarter earnings conference call on November 3rd, 2022. In the meantime, let’s recap how ConocoPhillips performed in its most recent second quarter 2022 financial report.
In the second quarter of 2022, the company reported earnings of $3.91 per share and revenue of $22 billion. This came in higher than analysts’ estimates were earnings of $3.78 per share, and revenue of $17.2 billion for Q2 2022. The revenue figures from Q2 2022 reflect a 115.3% increase during the same period, in 2021. Additionally, ConocoPhillips announced a $5 billion increase in the estimated 2022 return on capital to its shareholders.
COP Stock Chart
Shares of COP stock have outperformed the broader markets so far in 2022, as they have experienced an increase of over 36%. During Friday’s lunchtime trading session, COP stock is trading down over 8% at $100.70 per share. All in all, could now be the right time to keep ConocoPhillips on your radar?
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3. Halliburton Company (HAL)
Halliburton Company (HAL) is an American multinational corporation that provides services and products to the energy industry. Halliburton’s operations are divided into two business segments: completion and production, and drilling and evaluation. In essence, it offers a broad array of products and services to upstream oil and gas customers worldwide through 14 product service lines.
HAL Recent Stock News
At the start of this month, Halliburton announced it will be releasing its 3rd quarter 2022 financial results. Specifically, the company will report Q3 2022’s results Tuesday, October 25, 2022, before the market opens. While we wait for those updated numbers, let’s look back to see how the company’s second quarter 2022 results came in.
In July, Halliburton Company reported a beat for its second quarter 2022 results. In them, the company reported revenue of $5.1 billion, along with earnings of $0.49 per share. This came in stronger than analysts’ consensus estimates for Q2 2022, which were revenue of $4.7 billion, and earnings of $0.45 per share. Moreover, HAL also notched in a 36.9% increase in revenue during the same period, a year prior.
In addition, Jeff Miller, Chairman, President, and CEO of the company had this to say about the quarter’s performance “Our strong second quarter performance demonstrates that our strategy is working well, and Halliburton’s strategic priorities are driving value. Total company revenue grew 18% sequentially, as activity increased simultaneously in North America and international markets, and adjusted operating income grew 35% with strong margin performance in both divisions.”
HAL Stock Chart
As of Friday’s early afternoon trading, shares of HAL stock are down over 10% at $24.13 per share. HAL stock is currently trading down approximately 45% from its 52-week high of $43.99. Considering this, do you think HAL stock is a good addition to your long-term portfolio at these price levels?
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