Companies whose primary concentration is on the exploration, production, and selling of gas, oil, and renewable resources located worldwide are included in the energy business. For example, Devon Energy Corp. is an upstream company exploring gas or oil deposits. This kind of company is included in the energy sector's stock market. Companies that operate in the downstream sector include Marathon Petroleum Corp., which processes, refines, and otherwise alters oil and gas products before selling them to consumers. Chevron Corporation and ExxonMobil Corporation are the most prominent companies in this industry.
The Russian invasion of Ukraine has led to a rise in the cost of gasoline and oil. The price of a barrel of Brent crude has just surpassed one hundred cents, reaching its highest level since 2014 for 110.21 dollars a barrel on May 28, 2022. As a direct consequence of the Russian invasion, Germany stopped the construction of the Nord Stream 2 gas pipeline, which was supposed to increase the quantity of Russian gas imported into Germany.
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Marathon Petroleum Corp.
Marathon is an oil refining firm that concentrates on crude oil. The company serves customers across the U.S., refines supplies and transports, and sells petroleum-related products.
APA is an exploration company that focuses on the oil and gas and production business. The company reported in March mid-March that it had concluded two transactions, generating net proceeds of around $1 billion. On March 7th, the company's subsidiaries sold assets within the Delaware Basin for approximately $805 million. On March 11, one of APA's affiliates offered 4 million shares of Kinetik common stock class A with a net of $224 million.
Diamondback Energy Inc.
Its primary focus is acquiring, developing, and exploring offshore natural gas and oil reserves within the Permian Basin. The company recently announced that it had agreed to buy all of the common publicly-held units, representing the limited partnership stake within Rattler Midstream LP that it does not currently have. The all-stock deal implies an increase of 17.3 percent in the case of Rattler common units, based on the current closing values of the common units and Diamondback's stock on May 13th, 2022.
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Marathon Oil Corp.
Marathon Oil is an independent energy business that specializes in the discovery of new oil and gas fields as well as the production of these resources. The company has activities in Equatorial Guinea. Late in April, Marathon Oil announced that its board of directors had agreed to approve an annual dividend with a total amount of $0.08 per share. This represents an increase of approximately 15 percent compared to the company's previous annual, quarterly dividend. The dividend is scheduled to be paid out on June 10th, 2022, to shareholders of record as of the 18th of May, 2022.
Coterra Energy Inc.
Coterra Energy is an independent exploration and production company that has activities focused specifically on Permian Basin and the Marcellus Shale, and the Anadarko Basin.
ConocoPhillips is an independent energy firm that is involved in the development and exploration of crude oil as well as natural gas. It explores the production, transport, and exploration of natural gas, crude oil natural gas liquids (NGLs), and natural gas liquefied and bitumen.
Energy Stocks with the Highest Momentum
Devon Energy Corp.
Devon Energy is an independent corporation engaged in producing and developing natural gas and oil. In addition, the firm conducts exploration. The firm's board of directors stated in May that they had authorized a fixed plus variable dividend that would equal $1.27 per share for the company's shareholders. When compared to the previous quarter, this is a 27 percent gain. Shareholders who have been on the books since June 13th, 2022, are obligated to receive the dividend no later than the 30th of June, 2022. Devon Energy also said it would increase the amount it would spend to buy back shares of stock by up to 25 percent, reaching a total of $2.0 billion. Additionally, the termination date was moved to May 4, 2023.
Occidental Petroleum Corp.
The company is a producer of and produces NGLs, oil as well as natural gas. It also stores and transports natural gas and oil and produces basic chemicals and vinyl.