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It's time to compile a list of oil stocks to watch.
One reason: Crude oil futures hit near a six-week high in mid-April.
Moreover, U.S. crude oil production is booming, averaging around 3.22 million barrels at the end of 2013 according to the U.S. Energy Information Administration (EIA). When offshore production is added into the equation, the average number of barrels produced per day has risen to around 7.84 million.
That makes the U.S. accountable for 10% of the world's total oil production right now.
Here is a list of oil stocks to watch to tap into this booming sector…
List of Oil Stocks
EOG Resources Inc. (NYSE: EOG)
EOG is an independent company that has business ventures in natural gas and oil exploration, as well as production. It has diversified operations in the United States, Trinidad, United Kingdom, China and Canada.
The company's latest financial report showed that EOG was operating at net operating revenue of $14,487 million in 2013. The number shows a lot of growth compared to its $11,683 million in net operating revenue in 2012. As at April 16, the company projected its quarterly dividend payable to stockholders at $0.125 per share, which is an increase of 33%.
EOG stock was trading at $103.93 per share on April 23, with a 52-week range of $57.63-$104. Shares were up more than 23% year-to-date.
Penn Virginia Corp. (NYSE: PVA)
Penn Virginia has said it expects to boost its oil production by 85% in the current year. In 2013, the company showed strong growth in reinforcing its position in the highly productive Eagle Ford Shale. Additionally, PVA was recently in the news for acquiring George Soros as one of its shareholders.
The company traded at $17.15 on April 23, and is up more than 82% in 2014, landing it on our list of oil stocks to watch. Its 52-week range is $3.86-$18.09.
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Chevron Corp. (NYSE: CVX)
In 2012, Chevron operated on net average production of 2.16 million barrels of oil a daily basis. The return on the stockholders' equity was 15% in 2013, with a dividend of $3.90 per share. The company's market valuation as of Dec. 31 was $237,258 million.
CVX stock traded at $124.73 per share on April 23, with a 52-week range of $109.27-$127.83. It's been relatively flat so far in 2014, but has been pushing hard in exploration and development internationally. The promising long-term payoff from this growth put Chevron our list of oil stocks to watch.
Marathon Oil Corp. (NYSE: MRO)
MOR is divided into two separate entities: Marathon Oil Corp. and Marathon Petroleum Corp. Petroleum Corp. owns the fifth-largest refinery in the U.S. In 2012, Marathon Oil acquired around 25,000 acres in the Eagle Ford shale, one of the country's most productive regions.
On April 23, MRO stock traded at $36.52 per share, with a 52-week range of $30.21-$38.18. It's up 3.68% in 2014, and more than 19% year-over-year. Investors benefit from a 2.1% dividend yield, landing MRO on our list of oil stocks to watch.
NuStar Energy LP (NYSE: NS)
NuStar Energy L .P constructs docks and storage tanks in Corpus Christi, Texas. It's also heavily involved in building more facilities to allow the company to take advantage of the current energy boom.
These growth activities are focused in Eagle Ford shale, about 100 miles away from its Corpus Christi location. Its port there managed to ship out 350,000 barrels of crude oil every day in November 2013. The figure is significant rise from its 10,000 barrels per day it was shipping at the start of 2012, according to Bloomberg.
NuStar's growth in the Eagle Ford region earned it a spot on our list of oil stocks to watch. This stock has surprised analysts by closing in on its 52-week high. Shares are up 11.9% in 2014, and NS stock traded at $57.25 on April 23.
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