Goldman flags 10 energy stocks poised to rally as the sector crushes the S&P 500 in 2026

Ticker: DINO

12-month return: +62%

What Goldman says: Oil refiners have seen a year-to-date rally, but Goldman sees a continued "attractive risk/reward." They highlight the company's balance sheet strength, contribution from earnings in other parts of the oil complex, and exposure to the West Coast.

Projected upside: +9%

Ticker: COP

12-month return: +14%

What Goldman says: The company's major projects are set to generate strong free cash flow and improve supply and demand dynamics in oil. Goldman also highlighted ConocoPhillips' ongoing capital-efficiency efforts and its consistent buybacks.

Projected upside: +8%

Ticker: EQT

12-month return: +12%

What Goldman says: The analysts highlight that the company's low-cost structure offers "compelling free cash flow" while natural gas prices are lower relative to its peers.

Projected upside: +16%

Ticker: VNOM

12-month return: +17%

What Goldman says: Viper Energy's mineral royalty model, commitment to returning cash to shareholders, and growth prospects, among other factors the bank sees as bullish for the stock.

Projected upside: +23%

Ticker: FANG

12-month return: +9%

What Goldman says: The analysts reiterate their bullish stance on Diamondback stock, driven by the company's operations in the Permian Basin, its strong track record, and efforts to return capital to investors, particularly when oil pricing is less constructive.

Projected upside: +11%

Ticker: KMI

12-month return: +22%

What Goldman says: Kinder Morgan's natural gas backlog upside is underappreciated by investors while the company's new projects show strong execution, the bank said.

Projected upside: +2%

Ticker: LNG

12-month return: +6%

What Goldman says: The analysts are positive on the midstream energy stock, saying the market undervalues the company's contracted asset footprint, which offers insulation from commodity price moves compared to competitors.

Projected upside: +25%

Ticker: GLNG

12-month return: +8%

What Goldman says: The company's shifting focus to floating liquefaction is underappreciated by investors, while Golar's current operations are set to deliver strong growth.

Projected upside: +27%

Ticker: HAL

12-month return: +32%

What Goldman says: The oil services company is among Goldman's top picks due to its stock's year-to-date underperformance compared to peers Slb and Baker Hughes.

Projected upside: +14%

Ticker: VST

12-month return: +1%

What Goldman says: The analysts see upside opportunity for Vistra after its nuclear energy agreement with Meta as other big tech players looking to secure power for their AI efforts.

Projected upside: 28%