Energy Business

6 Top Energy Stocks Likely to Beat Earnings Estimates

EOG Resources Inc. (NYSE: EOG) is another top name the Stifel team feels can beat current estimates. The company is fueling record oil and natural gas production that is revolutionizing the U.S. energy position. Its position in the three biggest tight oil plays makes it a huge player in the exploration and production (E&P) field. EOG is the top producer in the Eagle Ford Shale and it has solid positions in both the Bakken and Permian Basin. Investors are paid a tiny 0.4% dividend. The consensus price target is $118.66. EOG closed Friday at $113.65.

Noble Energy Inc. (NYSE: NBL) should have almost 54% of its total 2014 production in the form of natural gas, which combined with higher spot pricing in the quarter could boost earnings. The company is also one of the many American firms expected to benefit when Mexico opens the door for E&P from outside companies for the first time in 70 years. The company has substantially boosted its spending to take advantage of higher oil and gas prices. Investors are paid a small 0.9% dividend. The consensus price target is $86.86. Nobel closed trading Friday at $73.69.

Pioneer Natural Resources Co. (NYSE: PXD) is a huge player in the Permian basin and the Eagle Ford in Texas, and it has been a big winner for shareholders. The company was named by the U.S. Commerce Department to produce and export condensate. Rumors have swirled over the past year that one of the big integrated oil players may target Pioneer as a takeover candidate. It would be a very expensive deal as the company’s market cap is almost $34 billion. The consensus target price is $240.38. Pioneer closed Friday at $222.42.

Suncor Energy Inc. (NYSE: SU) is another top Canadian oil producer and a major player in the vast oil sands in Canada. It recently announced a deal with blue-chip industrial behemoth General Electric aimed at improving the environmental performance of the oil sands in Alberta. The deal has created an investment opportunity of about $18 million. With environmental pressure a huge industry concern, this could prove a solid move for the long term. Investors are paid a 2% dividend. The consensus price target is $48.45. Shares closed trading Friday at $41.20.

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These six top names are good additions to any growth portfolio, even if they just hit Wall Street estimates. Coming in above the consensus expectations could really give the stocks a lift. Many of the stocks closed down last week, as oil prices traded lower, offering investors a better entry point.