For Immediate Release
Chicago, IL – November 11, 2026 – Today, Zacks Investment Ideas feature highlights CVR Energy CVI, Delek US Holdings DK, Northern Oil and Gas NOG and Marathon Petroleum MPC.
2 Oil Stocks to Buy on the Dip After Crushing Q3 Expectations: CVI, DK, NOG
Oil stocks are retreating as crude prices have pulled back amid easing geopolitical tensions between the United States and Iran. However, with Brent crude still near $90 a barrel and West Texas Intermediate (WTI) crude above $80, oil prices remain elevated by historical standards, and lingering uncertainty over Middle East supply disruptions could keep energy markets volatile.
Against this backdrop, the pullback may present an intriguing buying opportunity in select energy stocks that recently crushed Q3 earnings expectations.
In particular, CVR Energy, Delek US Holdings and Northern Oil and Gas have shown strong profitability and cash-flow potential, positioning them to benefit from favorable energy market conditions.
CVR Energy – CVI
Stock Price: $38 | 52 Week Range: $19.62-$63.51
Refining giant CVR Energy delivered exceptional Q3 results, with adjusted earnings surging to $4.00 per share from EPS of $0.40 a year ago, and crushing the Zacks Consensus Estimate of $3.09 by nearly 30%.
Revenue jumped 69% year over year to $3.28 billion, exceeding expectations of $2.17 billion by more than 50%. Strong refining margins fueled the impressive quarter, with petroleum segment adjusted EBITDA soaring to $565 million from $120 million in Q3 2025.
CVR also announced plans to acquire two Marathon Petroleum refineries, potentially expanding its earnings and cash flow generation capabilities.
Delek US Holdings – DK
Stock Price: $63 | 52 Week Range: $25.85-$82.27
Delek US Holdings has been another standout, posting Q3 adjusted earnings of $10.53 per share, which crushed expectations of $7.59 by nearly 39% and skyrocketed from EPS of $1.52 in the prior-year quarter.
Revenue climbed 52% to $4.39 billion and comfortably topped estimates of $3.88 billion by 13%, supported by favorable refining margins and improved operational efficiency.
Encouragingly, Delek raised its annualized cash flow improvement target to at least $250 million from $220 million, while outlining plans for $100 million in Q4 share repurchases and significant debt reduction.
Northern Oil and Gas – NOG
Stock Price: $23 | 52 Week Range: $17.18-$31.17
Northern Oil and Gas offers more direct exposure to energy commodity prices, making its recent pullback particularly interesting following a strong Q3 report.
NOG delivered Q3 adjusted earnings of $1.32 per share, surpassing estimates of $0.92 by an impressive 43% and improving 28% from EPS of $1.03 in the comparative quarter. Revenue increased 45% to $697.69 million, and exceeded expectations of $581.35 million by 20%.
Record production helped NOG generate $148.6 million in free cash flow, up 25% YoY, while management raised its full-year production guidance.
Adding to its appeal for income investors, NOG recently declared another $0.45 quarterly dividend, equivalent to an annualized payout of $1.80 per share and a very generous yield near 8%.
Bottom Line
Following their impressive Q3 results. CVR Energy, Delek US Holdings, and Northern Oil and Gas stock are each sporting a Zacks Rank #1 (Strong Buy).
Although declining crude prices remain a potential headwind, persistent geopolitical uncertainty and favorable refining economics could support profitability. More importantly, as compelling buy-the-dip candidates, these companies’ improving cash flow profiles provide opportunities to strengthen their balance sheets, reward shareholders, and fund future growth.
Free: Instant Access to Zacks’ Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P’s +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CVR Energy Inc. (CVI) : Free Stock Analysis Report
Delek US Holdings, Inc. (DK) : Free Stock Analysis Report
Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).</
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
