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By Ian Hoffman

With crude oil up about $10 a barrel on the year, and Brent Crude oil up nearly twice that, there has naturally been a plentitude of equities in the energy space that have benefitted greatly from the aforementioned increases, which has the U.S. national gas price at the pump up by roughly $0.30.

As long as there is global tension with Iran and the Middle East in general (these issues are not likely to be resolved in the near future), and the U.S. greenback remains in its perpetual state of weakness versus other global currencies, many oil and gas related companies stand to continue to benefit from rising prices.

One must also consider that summer is approaching, and with that comes even more pain at the pump. The situation has once again escalated to the point where the G-20 is discussing the rising oil and gas prices.

Below is a list of six stocks in the energy space that have, and likely will continue to, benefit from the current oil situation for the reasons listed above.

1. Exxon Mobil Corporation (NYSE:XOM)

Exxon Mobil is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. It also has interests in electric power generation facilities. The company has several divisions and hundreds of affiliates.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $87.34 with 4.73B shares out, giving it a market cap of $413.47B. Institutional ownership stands at about 49% with the short interest as of 1/31/2012 being 36.82M. Its forward P/E is 10.56 and it is trading 0.90% below its 52-week high of $88.13.

Average Analyst Price Target: $95.00

2. ConocoPhillips (NYSE:COP)

ConocoPhillips is an international integrated energy company. Its segments include Exploration and Production, Midstream, Refining and Marketing, Chemicals and Emerging Businesses.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $75.95 with 1.28B shares out, giving it a market cap of $97.19B. Institutional ownership stands at about 70% with the short interest as of 1/31/2012 being 19.06M. Its forward P/E is 9.17 and it is trading 7.15% below its 52-week high of $81.80.

Average Analyst Price Target: $84.00

3. Chevron Corporation (NYSE:CVX)

Chevron manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the U.S. and international subsidiaries that engage in petroleum operations, chemicals operations, mining operations, power generation and energy services.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $109.08 with 1.99B shares out, giving it a market cap of $217.23B. Institutional ownership stands at about 64% with the short interest as of 1/31/2012 being 19.33M. Its forward P/E is 8.52 and it is trading 1.72% below its 52-week high of $110.99.

Average Analyst Price Target: $126.00

4. Superior Energy Services, Inc. (NYSE:SPN)

Superior Energy Services is a provider of specialized oilfield services and equipment. It provides services, tools and lift-boats to maintain, enhance and extend producing wells, as well as plug and abandonment services at the end of their life cycle.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $30.09 with 155.22M shares out, giving it a market cap of $4.67B. Institutional ownership stands at about 65% with the short interest as of 1/31/2012 being 23.14M. Its forward P/E is 9.01 and it is trading 29.81% below its 52-week high of $42.87.

Average Analyst Price Target: $42.00

5. Transocean Ltd. (NYSE:RIG)

Transocean is an international provider of offshore contract drilling services for oil and gas wells. It operates in two segments: contract drilling services and other operations. Contract drilling services, the company's primary business, includes contracting its mobile offshore drilling fleet, related equipment and work crews primarily on a day rate basis to drill oil and gas wells.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $50.73 with 319.86M shares out, giving it a market cap of $16.23B. Institutional ownership stands at about 52% with the short interest as of 1/31/2012 being 5.81M. Its forward P/E is 34.51 and it is trading 41% below its 52-week high of $85.98.

Average Analyst Price Target: $60.00

6. Schlumberger Limited (NYSE:SLB)

Schlumberger provides a range of products and services from exploration through production. It is a supplier of technology, integrated project management and information solutions to customers in the oil and gas industry globally. The company operates in three segments: Reservoir Characterization Group, Drilling Group and Reservoir Production Group.

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Balance Sheet:

Balance Sheet

Its stock closed last Friday at $79.85 with 1.33B shares out, giving it a market cap of $106.50B. Institutional ownership stands at about 78% with the short interest as of 1/31/2012 being 19.06M. Its forward P/E is 16.85 and it is trading 16.41% below its 52-week high of $95.53.

Average Analyst Price Target: $91.00

Source: 6 Stocks Benefiting From Rising Oil Prices