5 Standout Energy Stocks Worth Buying as Oil Prices Surge to 2023 High

In comparison, the S&P 500 is up roughly 7% over the same timeframe.With oil prices set to test new highs, here are three energy stocks well-positioned to extend their march higher through the end of the year due to their solid fundamentals, reasonable valuations, and high shareholder returns.Fair Value Upside: +32.1%), a heavyweight in the oil and gas industry, boasts a strong presence in the refining and marketing sector.

second-quarter profit and revenue blew past consensus expectations thanks to strong global refinery demand. Despite its strong year-to-date performance, Marathon Petroleum’s stock is still undervalued according to the quantitative models in InvestingPro, making MPC an attractive option for investors.from Tuesday’s closing price of $147.02 as Marathon Petroleum is well positioned to capitalize on surging oil prices.Fair Value Upside: +31.4%) is another heavyweight in the energy sector, with diversified operations spanning refining, marketing, chemicals, and midstream.

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