Best Oil Stocks to Buy for 2024 and Beyond

Higher prices for crude, lower interest rates and industry consolidation bodes well for Wall Street's top oil stocks.

oil stocks
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Oil stocks followed an outstanding 2022 with a truly dismal 2023. In a year in which the broader market gained more than a fifth, the energy sector actually managed to lose value.

If there's any solace to be found, strategists say the backdrop for 2024 should be much more favorable – and that means Wall Street's best oil stocks to buy are poised for outperformance. 

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Wall Street's top-rated oil stocks
CompanyTickerAnalysts' Consensus Recommendation ScoreAnalysts' Consensus Recommendation
Targa ResourcesTRGP1.45Strong Buy
HalliburtonHAL1.52Buy
SLBSLB1.52Buy
Permian ResourcesPR1.59Buy
Patterson-UTI EnergyPTEN1.67Buy
Diamondback EnergyFANG1.70Buy
ConocoPhillipsCOP1.76Buy
Chevron CVX1.80Buy
Marathon OilMRO1.85Buy
OvintivOVV1.87Buy

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Dan Burrows
Senior Investing Writer, Kiplinger.com

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.


A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.


Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.


In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.


Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.


Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.