5 Best Oil Stocks to Buy Now Amid the US-Iran Conflict

2. Shell plc (NYSE:SHEL)

Stock Upside Potential: 24.61%

Year to Date Gain: 13.61%

Number of Hedge Fund Holders: 45

Shell PLC (NYSE:SHEL) is one of the best oil stocks to buy now amid the US-Iran Conflict. On May 20, QatarEnergy acquired stakes in three offshore exploration blocks in Uruguay from a Shell PLC (NYSE:SHEL) subsidiary, marking its first entry into the country’s upstream sector. Shell remains a key operator, holding majority interests in blocks OFF‑2 and OFF‑7, and a significant stake in block OFF‑4. The deal reinforces Shell’s role as a strategic partner for QatarEnergy in South America, expanding collaboration beyond existing projects in Qatar and other regions.

On May 18, analysts at HSBC upgraded Shell PLC to a Buy from a Hold, impressed by improved cash generation and stronger-than-expected earnings momentum.

The research firm expects Shell PLC to deliver improved medium-term production as it capitalizes on its recent acquisition of ARC Resources. The acquisition is poised to add about 370,000 barrels of oil per day of production and 2 billion barrels of proved and probable reserves. Enhanced production is expected to lift the company’s growth rate to around 4% annually through 2030.

While Shell PLC did trim its quarterly share buyback to $3 billion from $3.5 billion. It is poised to redirect the $500 million balance towards the balance sheet and partly offset an unexpected 5% increase in the dividend. HSBC expects the buyback to revert to $3.5 billion in the first quarter of 2027.

Shell PLC (NYSE:SHEL) is a global integrated energy company that operates across the entire oil and gas value chain, from finding and extracting crude oil to refining it into everyday products and distributing them to consumers.