The energy sector is coming off a strong year, and Australia is holding an outstanding position in the environment. After oil and coal, natural gas is the third biggest energy source in Australia and the nation is on its peak to boom the energy stock market in the upcoming days.
Let’s discover some of the top energy stocks in Australia holding the potential to boom the stock market in 2023.
Paladin Energy Ltd (PDN)
Paladin Energy Ltd is a Uranium mining and exploration company established in 1993 and is specialized in exploring and producing uranium. The annual revenue of Paladin Energy Ltd. is AUD6.481 Billion and is predicted to hike in the near future. PDN stocks have a total share outstanding of 2.981 Billion. Also, PDN stock price at current is 0.770AUD with a total market cap of AUD2.221 Billion.
Santos Limited (STO)
Another powerful name on the list is Santos Limited, an Australian oil and gas exploration and production company. The company was founded in 1955 and is counted among one of the best energy providers in the Asia-Pacific region. The annual revenue of Santos Limited is AUD11.387 Billion and holds around 3.25 Billion shares outstanding. STO stock price is AUD7.77 with a market cap of AUD25.405 Billion and is expected to hike soon due to increased demand for energy sources.
Woodside Energy Group (WDS)
Woodside Energy Group is an operator of oil and gas production and is Australia’s largest independent company in the energy industry. The firm was established in 1954 and emerged as one of the premier liquified natural gas (LNG) manufacturers which boosted the value of the company. The annual revenue of Woodside Energy Group is AUD 72.947 Billion and holds around 1.9 Billion shares outstanding. WDS stock price at present is AUD 38.40 with a market cap of AUD 24.22 Billion.
Origin Energy Limited (ORG)
Origin Energy Limited, an award-winning gas supplier and electricity provider is also holding a strong position in the stock market. The company was established in 2000 and secured a strong, recognized, and reputed image in the Australian market as well as in the stock market in recent years. The annual revenue of Origin Energy Limited is AUD 16.375 Billion and holds around 1.723 Billion shares outstanding. ORG stock price is AUD 8.67 with a market cap of AUD 14.609 Billion, making it a strong buy.
Ampol Limited (ALD)
Another powerful name added to the list is Ampol Limited, an Australian petroleum company established in 1936. It is an independent company and Australia’s leading transport energy provider ready to blast Australia’s stock market. The annual revenue of Ampol Limited is AUD 38.245 Billion and holds a share outstanding of 238.3 Million. Also, ALD stock price is AUD 32.57 with a market cap of AUD 7.761 Billion, making it a strong buy in 2023.
Conclusion
Australia’s energy sector is on its way to protecting a multifaceted web of oil, natural gas, and electricity to sustain steady energy supplies. Energy stocks including ORG, ALD, PDN, STO, and WDS are some top energy stocks to look for in 2023.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/27/top-5-energy-stocks-set-to-energize-the-australian-stock-market/