Oil Nears $100 as Exxon and Other Energy Stocks Move Back Into Focus

Crude is edging toward $100 and Middle East risks are back on traders’ radar just as equity indices are under pressure and the Federal Reserve faces louder calls to lift rates. Energy stocks such as Exxon Mobil and Chevron are moving the other way, catching attention as oil-linked profits come into focus. This article unpacks the setup and highlights three integrated oil and gas majors that are exposed to this latest spike in crude prices.

The stocks profiled below are just a small sample, while the full screen surfaced 14 more large, integrated oil and gas majors with equally compelling narratives that are not covered in this article.

To go beyond this short list, head straight into the Global Integrated Oil & Gas Majors screener to analyze, filter and identify the highest conviction opportunities that match your own risk and income preferences.

Serica Energy (AIM:SQZ)

Serica Energy brings pure UK exploration and production exposure into a screener mostly filled with bigger integrated groups, giving you a more direct play on upstream cash flows as North Sea output, pricing and tax policy all pull on the investment case.

Serica Energy focuses on identifying, acquiring and producing oil and gas reserves in the UK, earning about $974 million from exploration, development and production activities, with all revenue tied to the domestic basin. The stock carries a market value of roughly £1 billion.

"Production is expected to ramp up meaningfully in the second half of 2025 and into 2026, following the resolution of the Triton FPSO outages and successful completion of a major drilling program. This is described as setting the stage for increased revenue and potentially stronger net margins as output normalizes."

What happens to future margins will hinge on how one still developing pressure on the UK basin ultimately feeds through to after tax cash flows.

That after tax question is exactly what the full narrative for Serica Energy unpacks, including how upcoming policy shifts could accelerate or stall Serica Energy’s cash engine.

CVR Energy (CVI)

CVR Energy sits squarely in the Global Integrated Oil & Gas Majors theme as a US refiner and marketer whose earnings are closely tied to crack spreads, and it has become a direct way to link higher crude and product prices to cash generation in a portfolio.

"With no additional turnarounds planned until 2027, CVR Energy can expect increased throughput and efficiency, which would reduce operational interruptions and could support net margins if other cost and pricing factors remain favorable."

What happens to those margins will depend on how one unresolved cost pressure interacts with product pricing if refining conditions tighten further.

If that cost pressure is what you are watching, the full narrative for CVR Energy breaks down how CVR Energy’s earnings profile could be accelerating or quietly stalling from this point.

SM Energy (SM)

SM Energy plugs a pure upstream US producer into the Global Integrated Oil & Gas Majors theme, giving you direct oil price exposure through its acquisition and development focus across the Midland, South Texas, Uinta and DJ basins, with about $5b of exploration and production revenue and a roughly $8.7b market value.

For investors using this screener for oil price leverage rather than full integrated chains, SM Energy offers focused US shale exposure where operational choices and capital discipline can make crude swings hit especially hard or surprisingly softly on cash generation.

"Continued technological and operational optimization, such as completion and well cost efficiencies aggressively applied in Uinta and Midland Basin assets, are driving lower per-unit costs, enhancing production performance, and positioning SM Energy to better withstand commodity price volatility, supporting resilient net margins and free cash flow."

What happens to those cash flows will turn on how one evolving constraint ultimately feeds through to realized prices and long term production mix.

That long term mix question is exactly what the full narrative for SM Energy tackles, mapping how SM Energy’s cost wins, pricing shifts, and capital choices could be accelerating or quietly masking the next phase.

Seeking Fresh Alternatives Beyond Oil?

Some of the most interesting stories start moving before they hit headlines. New themes can gain momentum while previous leaders lose strength. Review these ideas while they are still developing and consider them at an early stage.

• Identify cash rich businesses before they gain broad attention by scanning the 13 high quality undervalued stocks that filters for quality balance sheets and reliable cash generation potential.
• Explore resilient income streams by reviewing the 2 dividend fortresses focused on companies with higher yielding payouts that aim to keep distributions and balance sheets on solid footing.
• Look into early-stage thematic momentum by combing through the 55 AI infrastructure stocks that highlights enablers of AI buildout rather than only the headline software stocks.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com