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Some of the best energy stocks have held steady under market pressures.
The energy sector has performed well overall. The S&P Oil & Gas Exploration and Production Select Index, which represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index, has risen roughly 150% since 2009.
And in terms of future sector growth, there is an energy boom on the horizon, with a projected 56% increase in the global consumption of oil and gas by 2040.
Here are some insights on how three of the best energy stocks right now operate, and how they've been performing in the stock market…
Three of the Best Energy Stocks Right Now
1. CNOOC Ltd. (NYSE ADR: CEO)
CEO shares traded around $163.99 on Friday. The stock gained around 5.3% over the week ending April 11, and is up 8.75% over the last month. CEO stock's average volume is 182,505.00 over the last 30 days.
Traded on the open market starting in 2001, Beijing, China-headquartered CNOOC is in the exploration and production industry. It's a limited company with many subsidiaries. Its core work is to produce offshore crude oil together with natural gas. In addition, it engages in exploration of oil as well as gas, as an independent entity.
After exploration, CNOOC handles the development, production, and sales of natural gas and oil. In China, this venture has four main locations of operation: Bohai Bay, the Western South China Sea, the East China Sea, and the East South China Sea. All these are offshore locations in the country.
Its overseas operations include oil and gas assets in Nigeria, Argentina, Australia, Indonesia, and the U.S. The company is a major player in the Canadian oil and gas trade. In 2012, CNOOC paid $15.1 billion to purchase Nexen, a Canadian oil and gas producer. At the time, it was China's largest overseas energy acquisition.
Over the years, CNOOC has acquired stakes in different oil and gas companies around the world, making it a giant in its own right.
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2. LUKOIL (ADR) (LUKOY)
LUKOIL has been one of the best energy stocks in the market. However, the volatile nature of the energy sector has affected its performance. LUKOY stock was down 3.19% the week ending Friday, April 11, and down 11.52% over the last three months. It closed Friday around $53.44 per share.
This major Russian oil company is privately owned in the country. It is one of the largest oil companies in the world and is mainly based out of Western Siberia, where most oil and gas productions for the country are found.
LUKOIL competes with the likes of Chevron, Exxon Mobil, and Royal Dutch Shell on the international platform.
3. Direxion Shares Exchange Traded Fund Trust (NYSEARCA: RUSS)
"[The Direxion ETF] is a contrarian fund that is designed to return a 300% movement based on any Russian stock market weakness," Money Morning Global Energy Strategist Dr. Kent Moors wrote. "Now that can really work against you if the Russian market is moving up, but currently this ETF has been a good move."
The fund generates at least half of its revenue in Russia and it's non-diversified. Founded in 2011, Direxion has stood out as one of the best energy stocks to buy. In 2014, RUSS is up 52.81%, and closed on Friday at $17.13 per share.
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