Energy stocks increased in 2026, driven by a confluence of favorable factors. Oil prices remained elevated near $70 a barrel as OPEC+ production discipline tightened global supply, while demand in Asia, particularly China and India, continues to recover and grow. Geopolitical tensions in the Middle East and Eastern Europe have added risk premiums to crude oil prices. At the same time, natural gas markets have benefited from increased LNG export capacity and Europe’s continued need to diversify away from Russian supplies.
Goldman Sachs is positive on ten top energy stocks.
Energy has outperformed the S&P 500 so far in 2026 and looks to continue that performance.
Top energy companies pay reliable and, in some cases, large dividends.
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The analysts at Goldman Sachs began to warm to the energy sector last year as it continued to underperform the overall market. The tables have turned, and energy is now outperforming the S&P 500 by a substantial margin. In the first quarter Energy Portfolio Strategy report, they highlight ten top companies in six sector sectors that are Goldman Sachs’ top picks. They had this to say in the report when discussing energy stocks and the sector as a whole:
The revaluation of Energy stocks has been significant this year, with the XLE +23% versus the S&P +1%. The strength was driven by positive GDP revisions, a broader technology turnaround, as well as positive oil momentum amid lower-than-expected surpluses and geopolitical uncertainty. We continue to rate the stock using a $70 Brent and $3.75 Henry Hub mid-cycle view. In this report, we discuss 10 ideas where we still see an attractive total return, with an average total return of ~19%.
I screened top 10 stock picks for the highest growth relative to Goldman Sachs price targets and reliable dividend yields. In other words, we looked for the best total return candidates in the pool. All are rated Buy at Goldman Sachs.
Chris Hondros/Getty Images ·Chris Hondros/Getty Images
Goldman Sachs is the recognized leader in the investment landscape on Wall Street and around the world. The firm’s leading research department continues to provide institutional and high net worth clients with the best ideas across the investment spectrum. It will probably continue to do so for years.
As a leader US LNG exporter, with a small dividend of 0.94%, Cheniere Energy Inc. (NYSE: LNG ) is positioned to benefit from both AI-driven domestic demand and international energy needs. Natural gas accounts for 43 percent of U.S. electricity generation, and Cheniere’s ability to scale operations quickly makes it a key player. The company’s export capabilities also provide a hedge against fluctuations in the domestic market. Some on Wall Street believe that electricity demand growth could increase by as much as 160% by 2030.
Energy harnesses is a producer and exporter of liquefied natural gas (LNG) in the United States. The company supplies clean and safe LNG to integrated power companies, utilities and energy trading companies around the world. The company operates two natural gas liquefaction and export facilities: one in Sabine Pass, Louisiana (Sabine Pass LNG Terminal) and another near Corpus Christi, Texas (Corpus Christi LNG Terminal).
Sabina’s step The LNG terminal, which has natural gas liquefaction facilities comprising 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 consists of three trains for a total production capacity of approximately 15 mtpa of LNG, three LNG storage tanks and two marine berths. It also owns and operates a 94-mile natural gas pipeline that interconnects the Sabine Pass LNG terminal with several large interstate and intrastate pipelines.
Goldman Sachs the price target for the stock is $275, representing a 25% gain.
This company is one of the largest natural gas producers in the USA EQT Corp. (NYSE: EQT ) has a dividend yield of 1.14%, is particularly active in the Appalachian Basin, and is also noted for its low-cost production. It is a leading vertically integrated US natural gas company with production and midstream operations focused on the Appalachian Basin. It has operations in Pennsylvania, West Virginia and Ohio.
It is strategic its location in the Southeast, particularly near data center hubs like Northern Virginia, makes it a key provider of AI-based energy services. EQT has entered into agreements to supply natural gas to its main data center campuses, including the redevelopment of a former coal plant in Homer City, Pennsylvania, into a natural gas-powered data center.
EQT owns or leases approximately 610,000 net acres in Pennsylvania. Most of the acreage is in the southwestern region of the state, most of it in Greene and Washington counties. The company develops Marcellus shale and Upper Devonian shale in this area. It also owns or leases 405,000 net acres in West Virginia. Most of the acreage is located in the northwestern region of the state, with most of it located in Doddridge, Marion, Tyler, and Wetzel counties.
Hold or lease 65,000 net acres in eastern Ohio and develop the Utica Shale in Belmont County. It operates Utica wells throughout Ohio. The Marcellus Shale lies at depths of 1 mile or more below the surface in much of Ohio, Pennsylvania, New York, and West Virginia.
One of us top writers 24/7 wall st. have conducted a thorough review of EQT stock and explained in depth why they are now a massive buy.
Goldman Sachs price target is $66. Hitting the target would be a 16% gain.
This is one newly added to the Goldman Sachs Conviction List and offers a 2.26% dividend and a significant upside to its price target. 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 (FLNG) vessels.
Of the company segments include:
FLNG
Corporate and others
Transport
the FLNG the segment covers the 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 vessels such as FLNG Hilli, FLNG Gimi and MKII FLNG.
Transportation the segment focuses on the transportation operations of LNG carriers.
Corporation The and Other segment includes administrative duties, ship operations and maintenance services. It also provides FLNG with commercial, operational and technical support; crew management and supervision services; and corporate secretarial, accounting and treasury services.
LNG neck operates in:
Bermuda
United Kingdom
Norway
Cameroon
Croatia
Goldman Sachs set a price target of $56, representing a 27% gain from current levels.
Viper Energy Inc. (NASDAQ: VNOM) owns and acquires mineral interests and royalties in oil and natural gas properties in the Permian Basin. With a dividend yield of 5.39%, this mid-cap energy play offers a significant upside to Goldman Sachs’ price target. Viper Energy is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves, primarily in the Permian Basin of West Texas.
The company focuses primarily on oil and natural gas properties in the Permian Basin, covering approximately 75,000 square miles centered on Midland, Texas.
Viper energy The assets consist of mineral interests and royalties underlying 1,197,638 gross and 34,217 net royalty acres, primarily in the Permian Basin.
It is estimated that proven reserves of oil and natural gas totaled 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 include 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 giant will work in tandem with big tech to power data centers and cloud computing and pays a small dividend of 0.56%. Vistra Corp. (NYSE: VST) is an integrated power generation and retail company that provides critical resources to customers, businesses and communities from California to Maine.
The company operates a reliable fleet of power generation facilities, including natural gas, nuclear, coal, solar and battery energy storage, while taking an innovative, customer-centric approach to its retail business.
Its segments include
Retail
Texas
East
West
Closing assets
Retail the segment sells electricity and natural gas to residential, commercial and industrial customers.
Texas and the East The segments are involved in electricity generation, wholesale power sales and purchases, commodity risk management activities, fuel procurement and logistics management.
West the segment comprises results from the CAISO market, including battery ESS projects at the Moss Landing power plant site.
Closing assets the segment is engaged in the decommissioning and reclamation of abandoned plants and mines.
to Goldman Sachs the price target for the stock is $205, representing a 28% gain.
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