Best Energy Stocks for April 2026: Oil Above $100 and No End in Sight
- Will Bell
- Apr 4
- 6 min read
Updated: Apr 4
Let's cut right to it.
💥 Iran's blockade of the Strait of Hormuz has taken roughly 20% of global oil supplies off the table.
The IEA called it the largest oil supply disruption in history.
Energy analysts at Rystad Energy warn that Brent crude could climb to $135 per barrel if the conflict persists.
👉 Most of the stock market is selling off on those headlines. Oil stocks are doing the opposite.
The State Street Energy Select Sector SPDR ETF (XLE) is up +27.4% year to date.
The S&P Oil and Gas Exploration ETF (XOP) jumped nearly 7% in a single week after U.S.-Israeli strikes.
This is not a slow drift higher. This is a sector repricing in real time.
Here are some of the best energy stocks for April 2026 built for exactly this moment.
1. ExxonMobil (XOM) ... The Integrated Giant With $135 Oil Upside
📈 ExxonMobil is the cleanest way to play $100+ oil. It owns the entire supply chain from wellhead to gas pump, which means every dollar of price increase flows through multiple revenue lines simultaneously.
Q4 2025 earnings came in at $6.5 billion on $82.3 billion in revenue... and that was at lower crude prices than where we are today.
With Brent trading well above Q4 averages right now, 2026 results should come in materially higher. Earnings are expected to jump 19.3% to $8.55 per share.
The stock is up 26.8% year to date with 11 recorded institutional inflow signals in 2026 alone.
Add a 3%+ dividend yield and a company that has grown its payout through every oil cycle for decades... and XOM is the play for investors who want the energy trade with income built in.
📈 XOM is up 26.8% YTD. Earnings expected at $8.55 per share in 2026 ... a 19.3% jump. At $135 oil the upside is significantly higher.
2. Chevron (CVX) ... 38 Straight Years of Dividend Growth
Chevron just completed its acquisition of Hess, adding a major Guyana offshore position that extends its production and free cash flow growth outlook through the 2030s.
Management expects cash flow to grow by an additional $12.5 billion in 2026 at $70 oil. At $100+ oil... that number is much larger.
🤔 Chevron raised its dividend for the 38th consecutive year in 2025 and plans to buy back between $10 billion and $20 billion of its own stock annually.
At current prices it is printing money.
Chevron is the pick for investors who want oil exposure with the most pristine dividend track record in the sector.
It has survived every oil price crash of the last four decades and come out stronger.
This one is built for the long run.
💰 Chevron: 38-year dividend growth streak. $10B to $20B annual buybacks. $12.5B incremental cash flow growth expected in 2026.
3. Occidental Petroleum (OXY) ... Warren Buffett's Favorite Oil Play
When Warren Buffett keeps buying a stock... it is worth paying attention.
👉 Berkshire Hathaway owns a massive position in Occidental and has been adding to it.
The reason is straightforward. OXY is a pure domestic oil producer with direct leverage to crude prices.
When oil moves up $10 per barrel, OXY's earnings move significantly. At $100+ crude... the earnings power is extraordinary.
OXY is one of the top analyst picks for the oil price surge scenario.
It is listed alongside XOM and CVX as a top integrated major pick for 2026 by multiple energy analysts.
📈 The combination of Permian Basin production dominance, strong free cash flow, and Buffett's ongoing accumulation makes this one of the most watched energy stocks on Wall Street right now.
🔍 Buffett watch: Berkshire Hathaway continues to hold and add to its OXY position. When Buffett commits this heavily to one energy name... the market notices.
4. Diamondback Energy (FANG) ... The Permian Operator Growing Earnings 28%
Diamondback Energy is not the largest name in the energy sector. But right now it may be the most interesting.
Earnings are forecast to grow 28.7% to $13.11 per share in 2026. The stock carries a solid 2.4% dividend yield on top of that growth.
FANG has appeared four times on institutional tracking reports as a top-ranked buy under institutional accumulation pressure.
With a MAP Score of 82.8, it has consistently shown up among the 20 highest ranked stocks under institutional buying in 2026.
👉 Big money may be quietly loading up on this one.
Diamondback focuses exclusively on the Permian Basin... the most productive and lowest cost oil region in the United States.
At $100+ crude, Permian operators generate enormous free cash flow. Diamondback is one of the best run operators in that basin.
📊 FANG: 28.7% earnings growth forecast. 2.4% dividend yield. 4 appearances on institutional accumulation tracking in 2026. Permian Basin pure play.
5. Cheniere Energy (LNG) ... The Natural Gas Bridge the World Cannot Live Without
Here is the energy story most people are sleeping on.
👉 While everyone focuses on crude oil, natural gas is quietly becoming one of the most strategically important commodities on earth.
Cheniere Energy sits between North American natural gas producers and global LNG consumers, locking in long-term purchase agreements on both sides.
90% of all volumes Cheniere produces are linked to these long-term arrangements... giving investors high confidence in cash generation regardless of short-term price swings.
📈 Morningstar rates Cheniere a wide economic moat company... meaning analysts believe it can fend off competition for 20+ years.
New expansion projects at Corpus Christi are currently under construction and expected to be fully in service in 2026, with the Midscale 8 and 9 expansions coming in 2028 and 2029.
Europe is still scrambling to replace Russian gas. Asia is building LNG import terminals as fast as possible.
The AI data center buildout is adding massive new natural gas demand domestically. Cheniere is on the right side of all three of those trends simultaneously.
🌍 Cheniere: Wide economic moat. 90% of volumes under long-term contracts. New Corpus Christi expansion in service 2026. Global LNG demand accelerating.
April 2026 Energy Watchlist: Quick Reference
• XOM (ExxonMobil) ... Up 26.8% YTD. 19.3% earnings growth forecast. 3%+ dividend. Full supply chain leverage to $100+ oil.
• CVX (Chevron) ... 38-year dividend growth streak. $12.5B incremental cash flow in 2026. $10B to $20B annual buybacks.
• OXY (Occidental) ... Buffett's oil play. Permian Basin dominance. Pure leverage to crude price. Strong free cash flow.
• FANG (Diamondback) ... 28.7% earnings growth. Institutional accumulation. Lowest cost Permian Basin operator.
• LNG (Cheniere) ... Wide moat. 90% long-term contracts. European and Asian LNG demand + AI data center tailwind.
The Closing Argument: The Energy Trade Has Legs
Every oil supply shock in modern history has lasted longer than the market initially expected. This one has no clear end date. That is the setup.
📈 The Middle East conflict is not resolving this week. The Strait of Hormuz is not reopening by Tuesday.
The supply disruption that sent oil past $100 per barrel is a structural situation that energy traders are pricing in for months... not days.
Meanwhile the demand side has not blinked. Global oil consumption is projected to increase by 640,000 barrels per day in 2026 according to IEA forecasts.
Supply is constrained. Demand is growing.
👉 The five stocks above are not speculation on what oil might do.
They are businesses that generate more cash, more earnings, and more dividends every time the price of crude goes up a dollar.
And right now... crude is going up a lot of dollars. 💵
The only question worth asking in April 2026 is not whether to own energy stocks. It is which ones to own and how much to own.
The answer to that question starts with the names above.
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