Energy stocks have been in focus over the past few months, with the conflicts in the Middle East and Ukraine sending oil prices higher and raising broader concerns about energy supplies.
Today I’m looking at two very different energy stocks â a refiner and a uranium company – which brokers have tipped for solid share price gains over the next 12 months.
Let’s have a look at who they like.
NexGen Energy Ltd (ASX: NXG)
NexGen is a Canada-focused uranium project developer that is focused on developing the Rook 1 Project in the southwestern Athabasca Basin of Saskatchewan.
The project’s Arrow deposit has a mineral resource of 257 million pounds of uranium, and the company recently said it had intersected numerous other mineralised zones adjacent to Arrow, which will be subject to further exploration to assess their economic potential.
NexGen has recently won a number of key approvals for the project, including to establish a temporary airstrip and to expand the exploration camp.
Broker Barrenjoey has just started covering NexGen shares and has an overweight rating on the stock with a price target of $14.80, compared to the current price of $12.24.
The broker said Rook was a “very high-grade deposit”, with first production expected in 2029-30.
They said the company could have the option to expand total production from 234 million pounds of uranium to 333 million pounds through the development of nearby resources.
Barrenjoey said the long-term outlook for the uranium price was strong, with their forecast of US$100 per pound higher than consensus estimates of US$87 per pound.
Viva Energy Ltd (ASX: VEA)
Viva Energy shares are up more than 80% over the past 12 months, but Macquarie’s analyst team believes they still have a way to go.
Macquarie has just released a new research note on Viva with an overweight recommendation and a price target of $4 compared to the current price of $3.16.
They are also forecasting a strong dividend yield of 8.1% this year, falling to 4.7% next year.
Macquarie has increased its forecast for Viva’s refining margins, saying the market remains tight despite a gradual recovery in trade through the Strait of Hormuz.
They said refining tailwinds were likely to persist through CY27, although soft retail fuel margins appear to be a larger drag in the second half of 2026.
Macquarie said tobacco sales were improving and new management strategies around product range and rotation were likely having some early effect.
Viva Energy is valued at $5.26 billion.
The post 2 ASX energy players that could return 20% to 30% over the next year appeared first on The Motley Fool Australia.
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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.