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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 60, which is 27 points higher than the oil and gas industry average of 33. It passed 23 out of 38 due diligence checks and has strong fundamentals. Chord Energy has seen its stock return 28.87% over the past year, overperforming other oil and gas stocks by 4 percentage points.

Chord Energy has an average 1 year price target of $211.50, an upside of 15.97% from Chord Energy's current stock price of $182.37.

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.

Diamondback Energy (NASDAQ:FANG) is the second best oil and gas stock with a Zen Score of 58, which is 25 points higher than the oil and gas industry average of 33. It passed 22 out of 38 due diligence checks and has strong fundamentals. Diamondback Energy has seen its stock return 53.57% over the past year, overperforming other oil and gas stocks by 29 percentage points.

Diamondback Energy has an average 1 year price target of $216.25, an upside of 9.19% from Diamondback Energy's current stock price of $198.05.

Diamondback Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 16 analysts covering Diamondback Energy, 62.5% have issued a Strong Buy rating, 18.75% have issued a Buy, 18.75% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Sm Energy Co (NYSE:SM) is the third best oil and gas stock with a Zen Score of 57, which is 24 points higher than the oil and gas industry average of 33. It passed 21 out of 38 due diligence checks and has strong fundamentals. Sm Energy Co has seen its stock return 86.59% over the past year, overperforming other oil and gas stocks by 62 percentage points.

Sm Energy Co has an average 1 year price target of $52.89, an upside of 6.8% from Sm Energy Co's current stock price of $49.52.

Sm Energy Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Sm Energy Co, 44.44% have issued a Strong Buy rating, 22.22% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 15 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 6.68%.

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 27.23%, which is 21 percentage points higher than the oil and gas industry average of 6.68%.

Sandridge Energy's dividend payout ratio of 290.8% 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 11.46%, which is 5 percentage points higher than the oil and gas industry average of 6.68%. Black Stone Minerals's dividend payout is not stable, having dropped more than 10% three 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 121% indicates that its high dividend yield might not be sustainable for the long-term.

Oil and gas stocks were up 0.1% in the last day, and down -1.74% over the last week.

We couldn't find a catalyst for why oil and gas stocks are up.

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 69 points higher than the oil and gas industry average of 31. It passed 7 out of 7 valuation due diligence checks.

Chord Energy's stock has gained 28.87% in the past year. It has overperformed other stocks in the oil and gas industry by 4 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 69 points higher than the oil and gas industry average of 31. It passed 7 out of 7 valuation due diligence checks.

Chesapeake Energy's stock has gained 10.73% in the past year. It has underperformed other stocks in the oil and gas industry by -14 percentage points.

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

Cnx Resources's stock has gained 51.28% in the past year. It has overperformed other stocks in the oil and gas industry by 27 percentage points.