Today's Top 3 Oil and Gas Stocks

Oil prices were on the move today, as investor optimism over the worldwide economy grew. At 5:00 pm ET on Tuesday, Brent crude was down 0.63% to $110.37 and WTI crude was down 0.22% to $96.83. U.S. natural gas was down 1.32% to $3.96.

Today's top 3
Among companies with market caps greater than $1 billion, today's oil and gas stocks leader was Seadrill Partners (NYSE: SDLP  ) , up 3.02% to $28.27 on no new news. Seadrill Partners is not to be confused with its parent company, Seadrill (NYSE: SDRL  ) , which created Seadrill Partners, a master limited partnership, last October in an effort to reap the tax savings that MLPs provide. Since its IPO, it's risen 14.61%. Management believes Seadrill Partners can be the fastest-growing MLP, stemming from the tailwinds it will enjoy as exploration and production companies move to explore ultra-deepwater locations. The company plans to pay a quarterly distribution. Its first was paid in February, at a rate of $0.2906 per unit for an annualized yield of 4.1%

Second among oil and gas stocks today was Occidental Petroleum (NYSE: OXY  ) , up 2.19% to $80.68. Over the weekend, there were reports of a battle going on between Chairman Ray Irani and CEO Stephen Chazen. At the last board meeting, it seems Irani made a move to push out Chazen. The board, in spite of some disagreements, ultimately decided to start a search process for a new CEO -- even though Chazen had no plans to leave. Investors are beginning to take sides on whether they want Chazen to stay or go, and perhaps whether Irani should instead go before his term is up in 2014.

And third today was CNOOC (NYSE: CEO  ) , up 1.87% to $193.68. Earlier today Bloomberg reported that OPEC believes China will become the world's top crude oil importer by 2014. CNOOC, PetroChina (NYSE: PTR  ) , and Sinopec have huge and growing domestic demand opportunities if they can fill them.

Foolish bottom line
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  • Report this Comment On April 03, 2013, at 10:21 AM, artmuseum wrote:

    SDLP gives John Fredriksen, the admiral at the helm of SDRL, an excellent opportunity to create a HIGH TECH GROWTH stock, rather than an INCOME stock = two very different categories of investments, The largest difference per chance is that HIGH TECH GROWTH stocks usually command a much higher PER than INCOME stocks.

    That requires a fascinating analysis = re the wisdom attached to these two choices = one buying investor interest with ultra-high payouts,

    virtually guaranteeing a low PER valuation, the other combining an intelligent payout with high capital appreciation + a stock with a consistently higher PER, requiring exquisite finesse + high discipline in shareholder relations.

    Stay tuned.

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