Goldman Sachs named the most promising energy company stocks in 2022
The Goldman Sachs team of analysts examined the energy sector and identified six companies with the biggest prospects in 2022.
They say the energy market plays an important role in the world today, especially given the energy crisis in Europe and China. By the end of 2021, the cost per barrel of Brent crude oil may rise from $90. Although in the long term, it will range around $70. Even so, investors have greatly underestimated the growth expectations of energy companies, which gives the potential for the latter.
Phillips 66, a technology company that refines oil and sells jet fuel, is expected to gain the stock's biggest gain. According to Goldman Sachs data, its growth will be 29%.
Halliburton and Schlumberger will both grow by 24%. The first one is also engaged in the provision of technological services in the oil and gas field. In addition to this, the second one is engaged in the development of information solutions and integrated management in the energy sector.
Baker Hughes (technology services) will be up another 20%, Quanta Services (power grid construction and maintenance) and Exxon Mobil (oil production) will be up 11-12%.