Oil Earnings Are Fizzling. These 5 Companies Stand Out.
Several oil-and-gas companies posted record earnings in 2022, but 2023 is shaping up to be more challenging.
Oil is still relatively pricey at around $80 per barrel, but it has come down considerably from its peaks– when prices hit their highest level since 2014. Natural gas has fallen even more dramatically. Oil and gas producers have healthy balance sheets but their earnings are mostly expected to fall. It is challenging for stock prices to rise when earnings are falling.