In this article, we will discuss: Goldman Sachs Energy Stocks: 10 Stocks to Buy.
On March 9, 2026, Reuters cited various sources as saying that Donald Trump is considering lifting oil sanctions on Russia and releasing emergency crude reserves to help control rising world prices during the ongoing conflict with Iran. Oil prices rose following more than a week of U.S. and Israeli strikes on Iran, prompting concerns within the White House about economic pressure ahead of the November midterm elections. Trump told reporters in Florida, “So we have sanctions on some countries. We’re going to take those sanctions off until the Strait is up.” Prices notably rose to $119 per barrel on Monday, the highest level since mid-2022. Trump also stated that he had a “very good call” with Vladimir Putin over the Ukraine war.
Meanwhile, officials are planning a coordinated crude release with the Group of Seven. The United States Secretary of Energy Chris Wright acknowledged that the administration is looking into sales from the US Strategic Petroleum Reserve, but no decision has been made. Sources said that possibilities include targeted sanctions relief that allows certain countries to purchase Russian oil, as well as measures like waiving federal taxes or Jones Act rules. Analysts and industry executives said authorities have limited options for quickly lowering prices until tanker traffic through the Strait of Hormuz recovers.
With that said, here are the Goldman Sachs Energy Stocks: 10 Stocks to Buy.
Energy transmission lines. Photo by Snapwire on Pexels
Methodology
We used Goldman Sachs’ 13F portfolio and selected the 10 Energy Stocks. We have mentioned Goldman Sachs’ stake value. The list is ranked in ascending order of the firm’s stake value in each holding.
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10. Magnolia Oil & Gas Corporation (NYSE:MGY)
Goldman Sachs’ Stake Value: $48.72 million
On March 10, 2026, Clear Street lifted Magnolia Oil & Gas Corporation (NYSE:MGY)’s price objective to $33 from $31 while keeping a Buy rating. The analyst cited stronger reserves as support for the target increase. The firm noted that the company generated an 11% increase in proved developing producing reserves compared to previous levels, showing stronger reserve growth in the latest filings.
On February 5, 2026, Magnolia Oil & Gas Corporation (NYSE:MGY) announced fourth-quarter net income of $71.4 million and full-year net income of $337.3 million, with adjusted EBITDAX of $215.7 million in the quarter and $906.1 million in 2025. The corporation had an operating cash flow of $208.4 million in the fourth quarter and $878.6 million for the year, with free cash flow of $74.7 million and $426.6 million, respectively. Output reached 103.8 thousand barrels of oil equivalent per day in the fourth quarter, up 11% year on year, with a full-year average of 99.8 Mboe/d. The firm added 49.8 million barrels of oil equivalent to proved developed reserves in 2025, attaining a reserve replacement ratio of 137%.
Magnolia Oil & Gas Corporation (NYSE:MGY) is involved in the acquisition, development, exploration, and production of oil and natural gas resources. It has assets in the Eagle Ford Shale and Austin Chalk formations of South Texas.
9. Baker Hughes Company (NASDAQ:BKR)
Goldman Sachs’ Stake Value: $275.00 million
On March 6, 2026, Reuters reported that Baker Hughes Company (NASDAQ:BKR) said US energy businesses added oil and natural gas rigs for the first time in four weeks, increasing the overall rig count by one to 551 for the week ending March 6. Oil rigs rose by four to 411, the most since early February, while gas rigs decreased by two to 132, the fewest since early February. Haynesville Shale rigs climbed by one to 53, the highest total since May 2023. The Marcellus Shale rig count increased by one to 27, the most since May 2024. Williston Shale rigs declined by one to 27, while North Dakota rigs dipped by one to 25. The total rig count remains 41 rigs, or 7% lower than last year.
Exploration and production companies tracked by TD Cowen expect to lower capital expenditures by around 1% in 2026 compared to 2025. The U.S. Energy Information Administration expects crude output to remain at 13.6 million bpd in 2026, while natural gas output will increase to 110.0 bcfd, with Henry Hub spot prices predicted to jump around 22%.
Baker Hughes Company (NASDAQ:BKR) is a holding company that provides oilfield products, services, and digital solutions. It works in two segments: oilfield services and equipment, and industrial and energy technology.
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