Wall Street: 3 oil companies whose stocks are worth paying attention to

Experts say that the tense situation on the world oil market does not bode well for many countries of the world that are still heavily dependent on fossil fuels.

However, despite this, Wall Street recommends that investors pay attention to the shares of 3 oil companies, which can bring substantial profits next year.

1. Shell is a multinational energy giant operating in more than 70 countries and producing about 3.2 million barrels of oil per day.

Shell has a stake in 10 refineries, and last year the company sold 64.2 million tons of LNG. The company's shares are listed on the London Stock Exchange, the Euronext exchange in Amsterdam and the New York Stock Exchange. It is worth noting that the shares registered on the NYSE have increased by 26% since the beginning of the year. Shell is trading at about $56 per share today.

2. Chevron is another major oil company benefiting from the commodity boom. 

For the third quarter, Chevron made a profit of $11.2 billion, which is 84% more than in the same period last year, and the company's sales and other operating income for the quarter amounted to $64 billion, which exceeded last year's figures by 49%. Chevron approved a 6% increase in quarterly dividends to $1.42 per share, meaning its dividend yield was 3.0%. Over the year, the company's shares have grown by 57%.

3. Exxon Mobil has the largest market capitalization — more than $460 billion, which is more than Shell and Chevron. 

In addition, the oil company boasts the strongest share price dynamics among all 3 companies in 2022: its shares have increased by 79% since the beginning of the year. In the first 9 months of 2022, Exxon earned $43.0 billion in profit, which is significantly more than $14.2 billion last year. Exxon Mobil's free cash flow for the first 9 months of 2022 was $49.8 billion compared to $22.9 billion for the same period last year. The company pays a quarterly dividend of 91 cents per share, which corresponds to an annual yield of 3.2%.