Oil Stocks to Buy Now

Jeff Siegel

Written By Jeff Siegel

Posted November 15, 2024

Want to know the best oil stocks to buy now? It’s not a difficult decision. It’s actually quite obvious.

oil stocks to buy

After all, with Trump coming back to the White House, he’s not being shy about his support for the U.S. oil and gas industry.

Of course, most of what he’s said about domestic oil & gas has been unnecessary.

Donald Trump made a habit of telling his supporters he was going to put his full support behind American oil & gas producers. This, while suggesting the previous administration has somehow stalled U.S. oil and gas dominance. Yet nothing could be further from the truth.

The fact is, U.S. oil production has consistently increased since the Obama administration. Check it out…

oilproductiongrows

It should also be noted that it was the Biden administration that approved the ConocoPhillips’ Willow Project in Alaska, which is the largest oil drilling operation in the country.

That being said, I’m definitely not here to stump for Biden. In fact, I believe history will show his tenure as President to be an absolute dud. But to suggest that American oil & gas was somehow fledgling over the past four years is, for lack of a better word, absurd.

Trump’s pick to head the EPA has also joined in on the absurdity, saying that he will work to restore U.S. energy dominance. Ironically, though, the U.S. is already “energy dominant.” There’s nothing to “restore.” Only China produces more electricity than the U.S. And that’s a truism that would exist with or without Donald Trump.

But I’m not here to nitpick about hyperbolic campaign speeches and political rhetoric. If Trump is pro-American energy, I’m definitely here for it. Not just because energy dominance is integral to the very survival of America’s superpower status, but because it gives us even more opportunities to make a boatload of cash in the oil & gas game.

2 Oil Stocks to Buy Now

If you’re a regular reader of these pages, you may already know the name: Civitas Resources (NYSE: CIVI).

But if you’re unfamiliar, Civitas Resources is an American oil and gas company with operations along the Denver-Julesburg, Delaware, and Midland basins. These are three of the highest-producing, lowest-breakeven basins in the United States.

The company announced Q3 earnings last week and beat on EPS. Highlights included…

  • Revenue climbed 23% to $1.27 billion.
  • Net income rose 112% to $295.8 million
  • Profit margin increased from 14% to 23%
  • EPS climbed from $1.57 to $3.02.

To be clear, Civitas did make some very aggressive investments last year which weighed on earnings throughout 2024. But I believe those investments will start paying off in 2025. Today, the stock trades at around $50 a share. My one-year price target on Civitas is now $70 a share, offering a potential 40% gain. And that does not include a very generous 9.7% dividend.

The second stock in my “oil stocks to buy” isn’t actually a producer, but rather a tech company that’s created a new drill that allows oil companies to increase output without drilling additional wells.

Basically, it allows these companies to get a second oil well — absolutely free. As well, it offers…

  • A 50% reduction in drilling time
  • $10 million in savings compared with the cost of traditional methods
  • A doubling of production capacity

While I’m bullish on Civitas as a play on American oil & gas stocks, this oil drilling tech stock is my top pick for 2025. It’s just a no-brainer. And that’s why I’m including a link to this new report which provides all the details on how the technology works, and more importantly, the company behind it.

Bottom line: U.S. oil & gas production should continue to get significant support from the Trump administration next year. And the best way to play that is through this oil drilling tech stock that I believe could double within the first six months of Trump’s next term.

To a new way of life and a new generation of wealth…

Jeff Siegel Signature

Jeff Siegel

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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.

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