Energy stocks has increased to 2026, driven by a confluence of favorable factors. Oil prices are hovering near $70 a barrel, as OPEC+ production discipline tightens global supply while demand from Asia, particularly China and India, continues to grow. Geopolitical tensions in the Middle East and Eastern Europe have added a risk premium to crude oil prices. At the same time, natural gas markets have benefited from increased LNG export capacity and continued demand from Europe away from Russian supplies.
Goldman Sachs is positive on 10 top stocks in the energy sector.
Energy has outperformed the S&P 500 so far in 2026 and looks set to continue that outperformance.
Top energy companies pay reliable, and in some cases, huge dividends.
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Analysts Last year at Goldman Sachs began to warm to the energy sector, as it continued to underperform the overall market. The tables have turned, and energy is now leading the S&P 500 by a substantial margin. In their first quarterly Energy Portfolio Strategy report, they highlight the ten leading companies in six sector silos that are top picks at Goldman Sachs. Discussing energy stocks and the overall sector, they said in the report:
The repricing of energy equities has been significant this year, with the XLE +23% versus the S&P +1%. This strength has been driven by positive GDP revisions, broader tech rotation, as well as positive oil momentum amid smaller than expected surpluses and geopolitical uncertainty. We continue to value equities using a mid-cycle view of $70 Brent and $3.75 Henry Hub. In this report, we discuss 10 ideas where we still see attractive total returns, with ~19% average total return.
We screened Goldman Sachs’ Top 10 Stock Picks for Biggest Upside Relative to Target Price and Reliable Dividend Yield In other words, we looked for the top total-return candidates in the group. All are rated Buy at Goldman Sachs.
Chris Hondros/Getty Images ·Chris Hondros/Getty Images
Goldman Sachs Is a recognized leader in the investment landscape on Wall Street and globally. The firm’s top-notch research department continues to provide institutional and high-net-worth clients with superior ideas across the investment spectrum. This is likely to continue for years.
as a leader US LNG exporter Cheniere Energy Inc., with a small 0.94% dividend. (NYSE: LNG ) is positioned to benefit from both domestic AI-driven demand and international energy needs. Natural gas accounts for 43% of US electricity generation, and Cheniere’s ability to quickly scale operations makes it a major player. The company’s export capacity also provides a hedge against fluctuations in the domestic market. Some on Wall Street believe that electricity demand growth could increase by 160 percent by 2030.
Cheniere Energy is a producer and exporter of liquefied natural gas (LNG) in the United States. The company provides clean and safe LNG to integrated energy companies, utilities, and energy trading companies worldwide. The company operates two natural gas liquefaction and export facilities: one near Sabine Pass, Louisiana (Sabine Pass LNG Terminal), and the other near Corpus Christi, Texas (Corpus Christi LNG Terminal).
Sabin Pass The LNG terminal, which has natural gas liquefaction facilities including six operational trains, has a total production capacity of approximately 30 million tonnes per annum (mtpa) of LNG.
Corpus Christi The LNG terminal near Corpus Christi, Texas has three railcars, three LNG storage tanks, and two marine berths for a total production capacity of approximately 15 mtpa of LNG. It owns and operates a 94-mile natural gas supply pipeline that connects the Sabine Pass LNG Terminal to several major interstate and interstate pipelines.
Goldman Sachs The price target for the shares is $275, representing a 25% gain.
This company US EQT Corp. (NYSE: EQT ) is one of the largest natural gas producers with a dividend yield of 1.14%, particularly active in the Appalachian Basin, and is also noted for its low-cost production. It is a major, vertically integrated U.S. natural gas company with production and midstream operations focused in the Appalachian Basin. It has operations in Pennsylvania, West Virginia, and Ohio.
Its strategic A location in the Southeast, particularly near data center hubs like Northern Virginia, makes it a leading supplier of AI-powered energy services. EQT has secured contracts to supply natural gas to major data center campuses, including the redevelopment of a former coal plant in Homer City, Pennsylvania, into a natural gas-powered data center.
Owned by EQT or approximately 610,000 net acres leased in Pennsylvania. Most of the acreage is in the southwestern region of the state, with most of Greene and Washington counties. The company is developing Marcellus Shale and Upper Devonian Shale in the region. It also owns or leases 405,000 net acres of land in West Virginia. Most of the acreage is located in the northwestern region of the state, with the majority located in Doddridge, Marion, Tyler, and Wetzel counties.
own it Or leases 65,000 net acres in eastern Ohio and is developing the Utica Shale in Belmont County. It operates Utica wells throughout its Ohio territory. The Marcellus Shale lies 1 mile or more below the surface in much of Ohio, Pennsylvania, New York, and West Virginia.
one of our Top 24/7 Wall St. writers review EQT shares in depth and explain in depth why they are a great buy right now.
Goldman Sachs The price target is $66. Hitting the target will gain 16%.
This is a A new addition to the Goldman Sachs conviction list and offers a 2.26% dividend and significant upside to the target price. Golar LNG Ltd. (NASDAQ: GLNG ) designs, owns and operates marine infrastructure for the liquefaction of natural gas and the regasification, storage and offloading of liquefied natural gas (LNG). Its fleet includes two floating liquefied natural gas vessels (FLNGs).
of the company Sections include:
FLNG
Corporate and others
Shipping
FLNG The segment covers operations of FLNG vessels and projects. It converts LNG carriers into FLNG vessels, builds new ones, and contracts them out to customers. This segment includes ships such as FLNG Hilli, FLNG Gimi, and MKII FLNG.
Shipping The segment focuses on the transportation operations of LNG carriers.
corporate And the Other segment includes administrative functions, ship operations, and maintenance services. It also provides FLNG commercial, operational, and technical support; crew management services and supervision; and corporate secretarial, accounting, and treasury services.
Golar LNG Operated on:
Bermuda
United Kingdom
Norway
Cameroon
Croatia
Goldman Sachs It has set a $56 target price, representing a 27% gain from current levels.
Viper energy Inc. (NASDAQ: VNOM) owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin. With a 5.39% dividend yield, this mid-cap energy play offers significant upside compared to Goldman Sachs’ target price. Viper Energy is an independent oil and natural gas company focused primarily on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas.
Company Primarily focused on oil and natural gas properties in the Permian Basin, covering approximately 75,000 square miles centered in Midland, Texas.
Viper energy The assets consist of 1,197,638 gross and 34,217 net royalty acres of underlying mineral and royalty interests located primarily in the Permian Basin.
It is estimated that Proved oil and natural gas reserves total 179,249 thousand barrels of crude oil equivalent (MBOE). The Company’s proven undeveloped reserves include approximately 529 gross horizontal well locations. The company’s proven reserves consist of approximately 50% oil, 25% natural gas liquids, and 25% natural gas.
A Goldman Sachs The price target of $54 represents a stunning 23% gain from current levels.
This utility is huge It will work closely with Big Tech to provide the power needed for data centers and cloud computing, and will pay a small 0.56% dividend. Vistra Corp. (NYSE: VST) is an integrated retail electric and power generation company that provides essential resources to customers, businesses, and communities from California to Maine.
Company Taking an innovative, customer-centric approach to its retail business, it operates a reliable fleet of energy generation facilities, including natural gas, nuclear, coal, solar, and battery energy storage.
its sections Include
retail
Texas
East
West
Property closed
retail The segment sells electricity and natural gas to residential, commercial and industrial customers.
Texas and East The segments are involved in power generation, wholesale energy sales and purchases, commodity risk management activities, fuel procurement, and logistics management.
West The segment includes CAISO market results, including battery ESS projects at the Moss Landing power plant site.
Property closed The segment is involved in decommissioning and reclaiming retired plants and mines.
Goldman Sachs’ The price target for the shares is $205, representing a 28% gain.
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