In this article, we will look at the 5 Oil Stocks with Highest Upside Potential. For a deeper discussion and an extended list, please see 11 Oil Stocks with Highest Upside Potential.

5. National Energy Services Reunited Corp. (NASDAQ:NESR)

National Energy Services Reunited Corp. (NASDAQ:NESR) is one of the best oil stocks with highest upside potential. National Energy Services Reunited Corp. (NASDAQ:NESR) received several rating updates following the release of its fiscal Q4 and full year 2025 results on February 17. UBS lifted the price target on the stock to $31 from $25 on February 19, reiterating a Buy rating on the shares and stating that it updated its model following the Q4 earnings report.

Barclays also raised the price target on National Energy Services Reunited Corp. (NASDAQ:NESR) to $34 from $25 on February 18, keeping an Overweight rating on the shares. The firm told investors in a research note that the company delivered fiscal Q4 financial results ahead of expectations with a “clean beat”, driven by factors such as “resilient” margins and the early Jafurah ramp. Barclays sees a “strong setup” for the company’s 2026 as Jafurah scales.

In its fiscal Q4 and full year 2025 results, National Energy Services Reunited Corp. (NASDAQ:NESR) reported that revenue for the quarter reached $398.3 million, up 34.9% sequentially and 15.9% year-over-year. Operating cash flow for the year ended December 31, 2025, was $264.2 million, up 15.2% year-over-year.

National Energy Services Reunited Corp. (NASDAQ:NESR) is involved in the provision of oilfield services, with the company’s operations divided into the Production Services and Drilling and Evaluation Services.

4. NextDecade Corp. (NASDAQ:NEXT)

NextDecade Corp. (NASDAQ:NEXT) is one of the best oil stocks with highest upside potential. NextDecade Corp. (NASDAQ:NEXT) provided an update on the developmental and strategic activities for fiscal Q4 2025 and early fiscal Q1 2025 on March 2. The company reported that it commercialized and attained positive final investment decisions (FIDs) on Trains 4 and 5 at the Rio Grande LNG Facility in 2025, with strong anticipated economic returns.

Management further stated that with 30 million tonnes per annum of expected LNG production capacity under construction and the goal of doubling its capacity to 60 MTPA on site, growth at attractive returns remains a primary focus for NextDecade Corp. (NASDAQ:NEXT). The company initiated the pre-filing process with the Federal Energy Regulatory Commission for Train 6 in November 2025, and anticipates filing a full application for Train 6 by mid-year. It also expects to advance the development of Trains 7 and 8 throughout the year.

NextDecade Corp. (NASDAQ:NEXT) further stated that another area of focus for the company is continuing to construct Trains 1 through 5 at the Rio Grande LNG Facility safely, on budget, and on or ahead of schedule. Trains 1 through 3 continue to track ahead of their guaranteed substantial completion dates, and the company is preparing to start commissioning activities at the facility this year. It expects the first LNG production in the first half of 2027.

NextDecade Corp. (NASDAQ:NEXT) is a development company with a focus on liquefied natural gas (LNG) export projects and associated pipelines. The company manages and develops floating and land-based liquefied natural gas projects in the Gulf Coast, with a focus on the Rio Grande LNG.

3. Weatherford International plc (NASDAQ:WFRD)

Weatherford International plc (NASDAQ:WFRD) is one of the best oil stocks with highest upside potential. Goldman Sachs lifted the price target on Weatherford International plc (NASDAQ:WFRD) to $107 from $83 on March 4, reiterating a Neutral rating on the shares and telling investors that while geopolitical risks may create near-term challenges, early signs of dislocations exist, which could present opportunities when compared to fundamentals. Goldman Sachs does not anticipate the current geopolitical concerns to meaningfully impact long-term customer plans, as significant portions of the activity increases are structural in offsetting decline rates and increasing production capacity.

In a separate development, Weatherford International plc (NASDAQ:WFRD) announced on February 12 that it has been awarded a multi-year Integrated Completions contract by TotalEnergies in Denmark. Management reported that the contract reflects TotalEnergies’ confidence in Weatherford International’s (NASDAQ:WFRD) technical expertise, execution capabilities, and commitment to delivering high-quality well solutions. According to the terms of the agreement, Weatherford International plc (NASDAQ:WFRD) will deliver leading completions products and services supporting offshore operations in Denmark.

Weatherford International plc (NASDAQ:WFRD) provides services and equipment to the natural gas and oil exploration and production industry. The company has operations in the Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI) segments.

2. Solaris Energy Infrastructure, Inc. (NYSE:SEI)

Solaris Energy Infrastructure, Inc. (NYSE:SEI) is one of the best oil stocks with highest upside potential. Morgan Stanley lifted the price target on Solaris Energy Infrastructure, Inc. (NYSE:SEI) to $72 from $68 on February 26, reiterating an Overweight rating on the shares and telling investors that it is “encouraged” by the progress on new data center deals and line of sight on new equipment procurement. It added that it incorporates the recent DC contract into its valuation and raised its implied multiple.

Solaris Energy Infrastructure, Inc. (NYSE:SEI) also received a rating update from Barclays the same day. The firm lifted the price target on the stock to $63 from $61, maintaining an Overweight rating on the shares and stating that the company reported “another quarter of strong results” as it continually executes, adding capacity.

Solaris Energy Infrastructure, Inc. (NYSE:SEI) announced financial and operational results for fiscal Q4 2025 on February 24 and provided updated earnings guidance. Revenue for fiscal Q4 reached $180 million, up 8% sequentially compared to fiscal Q3 2025. Full year 2025 saw revenue growth of 99% compared to 2024 and net income growth of 102%, while adjusted EBITDA rose 137% year over year. Solaris Energy Infrastructure, Inc. (NYSE:SEI) increased its fiscal Q1 2026 adjusted EBITDA guidance to $72-77 million from previous guidance of $70-75 million and established Q2 2026 adjusted EBITDA guidance at $76-84 million.

Solaris Energy Infrastructure, Inc. (NYSE:SEI) manufactures patented mobile proppant management systems that store, unload, and deliver proppant to natural gas and oil well sites. The company’s products include Inventory Management Software and Mobile Proppant and Mobile Chemical Management Systems.

1. Expand Energy Corporation (NASDAQ:EXE)

Expand Energy Corporation (NASDAQ:EXE) is one of the best oil stocks with highest upside potential. Expand Energy Corporation (NASDAQ:EXE) announced on March 3 that it has formed and strengthened partnerships with leading brands aimed at streamlining and enhancing its operations, with each partnership reflecting the benefits of the adoption of the latest technology. They also highlight how the company approaches operational improvement across its advantaged portfolio. These partnerships include deploying Leucipa’s automated field production solution to improve operational efficiencies with partner Baker Hughes, adopting a leading data integration platform to unify and activate data for smarter operational decision-making with partner Snowflake, and bringing next-generation, low-emission electric pressure pumping technology to NE App with partner Evolution Well Services.

Expand Energy Corporation (NASDAQ:EXE) has received several rating updates from analysts following its earnings release for fiscal Q4 and full year 2025. UBS cut the price target on the stock to $135 from $150 on February 23, reiterating a Buy rating on the shares. The same day, Wells Fargo also raised the price target on Expand Energy Corporation (NASDAQ:EXE) to $123 from $120 and maintained an Equal Weight rating on the shares.

Expand Energy Corporation (NASDAQ:EXE) is involved in the production and development of oil, natural gas, and natural gas liquids. Its operations include Haynesville, Northeast Appalachia, and Southwest Appalachia.

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