2020 was a tough year for ExxonMobil (NYSE: XOM) and the broader oil and gas industry. Supply outpaced demand as the COVID-19 pandemic wreaked havoc on energy prices. In 2020, energy was the worst-performing sector in the S&P 500, and ExxonMobil stock reached its lowest levels since 2003. At its worst point, ExxonMobil's market cap fell below Zoom Video Communications (NASDAQ: ZM) . This is hard to believe considering today -- less than two years later -- ExxonMobil has a market cap above $320 billion and Zoom is worth less than $40 billion.
Energy stocks were the best performing sector in 2021 , and have so far been the best industry in 2022 as oil prices approached $100 per barrel . Yet there are still bargain stocks in the oil and gas space. Midstream giants Kinder Morgan (NYSE: KMI) and Plains All American Pipeline (NASDAQ: PAA) remain a good value for long-term investors. Here's what makes each energy stock a great buy now.
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Miss Exxon's Run-Up? Here Are 2 Energy Stocks To Like More