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- The energy sector has handily surpassed the gains in the S&P 500 this year.
- Goldman Sachs highlights 10 stocks in the space that are poised for more upside.
- ConocoPhillips, Kinder Morgan, and Vistra Energy are some of Goldman’s top picks.
Energy has been the best-performing stock sector in 2026, and Goldman Sachs said it’s identified 10 names that can keep delivering for investors.
The energy sector , along with consumer staples and materials, have been a bright spot in 2026 while the S&P 500 hovers in the red. The sectors’ outperformance comes as oil prices rise and as investors embark on a market rotation away from high-flying tech shares. The energy sector has gained 20% since the start of 2026 compared the the S&P 500’s basically flat performance year to date.
“The strength has been driven by positive GDP revisions, a broader tech rotation as well as positive oil momentum amid smaller than expected surpluses and geopolitical uncertainty,” Goldman analysts wrote.
Goldman Sachs highlighted 10 energy stocks with buy ratings that analysts say have more upside amid the sector’s rally.
HF Sinclair
Business Insider
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%
ConocoPhillips
Business Insider
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%
EQT Corp
Business Insider
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%
Viper Energy
Business Insider
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%
Diamondback
Business Insider
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%
Kinder Morgan
Business Insider
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%
Cheniere Energy
Business Insider
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%
Golar LNG
Business Insider
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%
Halliburton Company
Business Insider
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%
Vistra Energy
Business Insider
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%