In this article, we are going to discuss the 14 best energy stocks to buy according to Wall Street analysts.
As of the writing of this piece, the S&P Energy index has surged by 33.25% since the beginning of 2026, a stark contrast from the decline of 4.40% posted by the overall S&P 500 during the period.
The sharp uptick this year has been driven by events that have recently shaken the global energy landscape, such as the regime change in Venezuela and, most importantly, the ongoing war in Iran. The ouster of Nicolás Maduro gave American companies open access to the largest oil reserves in the world. Moreover, these reserves contain sour crude, which happens to be perfectly compatible with the American Gulf Coast refineries.
Now, the ongoing US-Iran war has resulted in Tehran blocking the ever-important waterway of Hormuz, and thus choking around a fifth of the global oil and LNG supply. Low supply means high prices, and that’s exactly what happened when Brent crude prices soared past the $100 per barrel mark, hitting their highest levels since Russia invaded Ukraine back in 2022.
While the war has proven catastrophic for Middle Eastern producers, it has come as a boon for the Western oil companies. The skyrocketing prices have provided a much-needed financial cushion for the operators on the other side of the world, especially after 2025 ended on a low.
According to Jefferies, American producers will generate an extra $5 billion cash flow this month alone from the multi-year high prices. Moreover, if the current price levels are maintained, the US oil companies are set to receive a $63 billion windfall this year, according to the intelligence firm Rystad Energy. This has inevitably pushed several American oil majors, including Exxon and Chevron, to their all-time highs, while also getting the analysts over at Wall Street to finally turn more bullish on the industry.
With that said, here are the Best Energy Stocks to Invest in According to Wall Street.
Our Methodology
To collect data for this article, we referred to several stock screeners to find energy stocks with the highest upside potential according to Wall Street analysts, as of March 22, 2026. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. The following are the Best Energy Stocks According to Analysts.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
14. Viper Energy, Inc. (NASDAQ:VNOM)
Upside Potential as of March 22: 11.37%
Viper Energy, Inc. (NASDAQ:VNOM) is a publicly traded Delaware corporation focused on owning and acquiring mineral and royalty interests, primarily in the Permian Basin.
On March 20, JPMorgan increased its price target on Viper Energy, Inc. (NASDAQ:VNOM) from $47 to $52, while keeping an ‘Overweight’ rating on the shares. The raised target reflects an upside potential of almost 10% from the current share price.
According to JPMorgan, the oil market fundamentals have ‘shifted on a dime’ following the war in the Middle East. The conflict has disrupted around a fifth of the global oil supply after Tehran closed down the Strait of Hormuz, ‘quickly evaporating’ the previous fears of a global supply glut in 2026. The analyst firm even stated that it wouldn’t be surprised if a $5-$10 per barrel geopolitical risk premium gets embedded into the oil price in the long run due to the conflict.
With a robust annual dividend yield of 4.65%, Viper Energy, Inc. (NASDAQ:VNOM) was also recently included in our list of the 13 Oil Stocks with Highest Dividends.
13. California Resources Corporation (NYSE:CRC)
Upside Potential as of March 22: 12.15%
California Resources Corporation (NYSE:CRC) operates as an independent energy and carbon management company in the United States. It operates in two segments, Oil and Natural Gas, and Carbon Management.
On March 18, Citi upped its price target on California Resources Corporation (NYSE:CRC) from $51 to $67, while maintaining a ‘Neutral’ rating on the shares. The bumped target, which indicates an upside of almost 5% from the current prices, comes as the analyst firm sees CRC as a ‘prime beneficiary’ of the soaring oil prices from the US-Iran war.
The war has led to Iran blocking off the Strait of Hormuz, which handles around a fifth of the global crude oil and LNG supply. Moreover, there have been several attacks on the region’s energy infrastructure from both sides, leading to further supply disruption that could even last for years.
The higher prices will help create a significant financial cushion for California Resources Corporation (NYSE:CRC) during the quarter. This comes after the company already generated $543 million in free cash flow in FY 2025, the highest level since 2021. CRC is also known for its strong commitment to shareholders and returned 94% of this FCF to them last year. The company currently boasts an annual dividend yield of 2.54% and was recently ranked in our list of the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.
