The energy sector has been one of the best-performing sectors in 2020. Driven by higher oil and gas prices as well as increased demand for renewable energy, natural gas prices have also been on the rise due to increased demand from Asia and Europe. Production cuts from major producers have also contributed to higher prices.
Having so-far outperformed the market in 2020, here are the top three natural gas stocks for Q4:
1. Exxon Mobil (XOM)
Exxon Mobil is the largest publicly traded oil and gas company in the world. The company has a large presence in the natural gas industry and is one of the largest producers of natural gas. Exxon Mobil has been one of the best-performing stocks in 2020, with shares up over 30%. The company is well-positioned to benefit from higher natural gas prices.
2. Chevron (CVX)
Chevron is another large oil and gas company with a significant presence in the natural gas industry. The company has been one of the best-performing energy stocks in 2020, with shares up over 25%.
3. Antero Resources (AR)
Antero Resources is a leading independent exploration and production company focused on natural gas. The company has been one of the best-performing energy stocks in 2020, with shares up over 150%.