Please ensure Javascript is enabled for purposes of website accessibility

Today's Top 3 Oil and Gas Stocks

By Dan Dzombak - Apr 2, 2013 at 5:46PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

These companies were winners today.

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 (SDLP), up 3.02% to $28.27 on no new news. Seadrill Partners is not to be confused with its parent company, Seadrill (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 (OXY -1.09%), 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 (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 (PTR 1.69%), and Sinopec have huge and growing domestic demand opportunities if they can fill them.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

SeaDrill Limited Stock Quote
SeaDrill Limited
SDRL
Occidental Petroleum Corporation Stock Quote
Occidental Petroleum Corporation
OXY
$63.26 (-1.09%) $0.70
CNOOC Limited Stock Quote
CNOOC Limited
CEO
PetroChina Company Limited Stock Quote
PetroChina Company Limited
PTR
$50.01 (1.69%) $0.83
Seadrill Partners LLC Stock Quote
Seadrill Partners LLC
SDLP

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
331%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/20/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.