EQNR - 2 Top Energy Stocks to Buy Right Now
When a sector has as spectacular a year as energy stocks have had in 2022, it gets harder to find ways to allocate new money into the sector. Valuations have gone up alongside commodity prices and that's attracting investors that had shunned the sector during the previous downturn.
Just because there are fewer great investments in the sector today doesn't mean they no longer exist. Two oil stocks that stand out today are oil and gas giant Equinor (NYSE: EQNR) and offshore rig company Noble Corporation (NYSE: NE) . Here's why you may want to consider them for your portfolio today.
It's rather amazing how Equinor's profitability has flown under investors' radars so far in 2022. The Norwegian oil and gas giant has been reporting stellar results that would make some of its larger oil and gas giant peers blush. Over the previous four quarters, Equinor has generated $30.85 billion in free cash flow. It is less than what both Chevron and ExxonMobil put up in the quarter, but when you compare free cash flow to their respective market caps, Equinor is generating much more cash per share than the other two by a pretty wide margin.
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2 Top Energy Stocks to Buy Right Now