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Best Oil and Gas Stocks to Buy Now (2024)

Top oil and gas stocks in 2024 ranked by overall Zen Score. See the best oil and gas stocks to buy now, according to analyst forecasts for the oil & gas e&p industry.

According to Zen Score, the 3 best oil stocks to buy right now are:

Chord Energy (NASDAQ:CHRD) is the top oil and gas stock with a Zen Score of 64, which is 32 points higher than the oil and gas industry average of 32. It passed 25 out of 38 due diligence checks and has strong fundamentals. Chord Energy has seen its stock return 29.91% over the past year, overperforming other oil and gas stocks by 6 percentage points.

Chord Energy has an average 1 year price target of $208.17, an upside of 18.29% from Chord Energy's current stock price of $175.98.

Chord Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Chord Energy, 83.33% have issued a Strong Buy rating, 16.67% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Geopark (NYSE:GPRK) is the second best oil and gas stock with a Zen Score of 56, which is 24 points higher than the oil and gas industry average of 32. It passed 20 out of 38 due diligence checks and has strong fundamentals. Geopark has seen its stock lose -7.68% over the past year, underperforming other oil and gas stocks by -32 percentage points.

Geopark has an average 1 year price target of $12.50, an upside of 33.26% from Geopark's current stock price of $9.38.

Geopark stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Geopark, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Magnolia Oil & Gas (NYSE:MGY) is the third best oil and gas stock with a Zen Score of 55, which is 23 points higher than the oil and gas industry average of 32. It passed 21 out of 38 due diligence checks and has strong fundamentals. Magnolia Oil & Gas has seen its stock return 26.44% over the past year, overperforming other oil and gas stocks by 3 percentage points.

Magnolia Oil & Gas has an average 1 year price target of $27.13, an upside of 8.02% from Magnolia Oil & Gas's current stock price of $25.11.

Magnolia Oil & Gas stock has a consensus Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Magnolia Oil & Gas, 37.5% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 12.5% have issued a Strong Sell.

Out of 37 oil and gas stocks that have issued dividends in the past year, the 3 oil and gas stocks with the highest dividend yields are:

Mexco Energy (NYSEMKT:MXC) has an annual dividend yield of N/A, which is N/A percentage points lower than the oil and gas industry average of 3.72%.

Mexco Energy's dividend payout ratio of 10.8% indicates that its dividend yield is sustainable for the long-term.

Sandridge Energy (NYSE:SD) has an annual dividend yield of 27.97%, which is 24 percentage points higher than the oil and gas industry average of 3.72%.

Sandridge Energy's dividend payout ratio of 224.2% indicates that its high dividend yield might not be sustainable for the long-term.

Black Stone Minerals (NYSE:BSM) has an annual dividend yield of 11.59%, which is 8 percentage points higher than the oil and gas industry average of 3.72%. Black Stone Minerals's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Black Stone Minerals's dividend has shown consistent growth over the last 10 years.

Black Stone Minerals's dividend payout ratio of 99.5% indicates that its high dividend yield might not be sustainable for the long-term.

Oil and gas stocks were up 0.78% in the last day, and down -4.01% over the last week. Civitas Resources was the among the top gainers in the oil & gas e&p industry, gaining 7.02% yesterday.

Civitas Resources shares are trading higher after the company reported better-than-expected Q1 sales results and reiterated FY23 sales volume guidance.

Based on WallStreetZen's Valuation Score, the 3 most undervalued oil and gas stocks right now are:

Chord Energy (NASDAQ:CHRD) is the most undervalued oil and gas stock based on WallStreetZen's Valuation Score. Chord Energy has a valuation score of 100, which is 60 points higher than the oil and gas industry average of 40. It passed 7 out of 7 valuation due diligence checks.

Chord Energy's stock has gained 29.91% in the past year. It has overperformed other stocks in the oil and gas industry by 6 percentage points.

Chesapeake Energy (NASDAQ:CHK) is the second most undervalued oil and gas stock based on WallStreetZen's Valuation Score. Chesapeake Energy has a valuation score of 100, which is 60 points higher than the oil and gas industry average of 40. It passed 7 out of 7 valuation due diligence checks.

Chesapeake Energy's stock has gained 12.51% in the past year. It has underperformed other stocks in the oil and gas industry by -11 percentage points.

Amplify Energy (NYSE:AMPY) is the third most undervalued oil and gas stock based on WallStreetZen's Valuation Score. Amplify Energy has a valuation score of 71, which is 31 points higher than the oil and gas industry average of 40. It passed 5 out of 7 valuation due diligence checks.

Amplify Energy's stock has gained 9.29% in the past year. It has underperformed other stocks in the oil and gas industry by -15 percentage points.