Hess Corp (NYSE:HES) is an American energy corporation committed to the production and exploration of crude oil and natural gasses. Hess partners exclusively with ExxonMobil and at the beginning of this month, they announced the discovery of three more offshore discoveries near Guyana which brings the well count to a total of eight.
Hess’s plan with these three new offshore wells is to develop three additional phases which could potentially produce more than 500,000 barrels of oil per day by the end of 2023. Hess Corp. is up 36.7% on their year-to year stock price and the future looks bright for oil companies as the price per oil barrel is expected to skyrocket by the end of this year.
Another top performing oil producer is Anadarko Petroleum (NYSE:APC). The second top oil producer in 2018 has seen a stock gain over just over 35% as they have been sending more money back to shareholders. The company authorized a $2.5 billion stock repurchase program last fall that secured 10% of its outstanding shares.
Anadarko plans pay off another $1 billion in debt by the end of 2019 which is the case if oil prices continue to rise at the rate it does. By paying off debt, the company ultimately would be sending more money back to its shareholders to keep them happy and invested for the long term.
The third highest oil company in the newest fiscal year is ConocoPhillips (NYSE:COP) as they have seen a 25% increase in stock price. The company increased it’s dividend by 7.5% making this an attractive stock for investors. Also, they plan to buy back at least $2 billion in stock this year leaving room for investors to make even bigger returns.
Honorable mentions for top performing oil stocks are Marathon Oil (NYSE:MRO) gaining 22% and Noble Energy (NYSE:NBL) seeing 16.6% returns. The price for barrel is expected to rise tremendously as demand overpowers supply, these oil stocks could be even bigger winners in the long-term!