The stock market has been on a remarkable run this year, with most sectors, including energy, experiencing a resurgence. Despite the overall rally, several energy stocks still present compelling investment opportunities, according to a few Fool.com contributors. Chevron, MPLX, and Occidental Petroleum have been identified as stocks that could deliver high-octane total returns for investors willing to capitalize on their unique strengths and growth potential.

Seize the Moment: Uncover the Hidden Gems in the Energy Sector

Chevron: Weathering the Storm, Poised for Long-Term Success

Chevron, one of the elite integrated energy majors, has faced some unique challenges in recent times. While the company boasts a strong market presence, diversified operations, and a robust financial profile, it has lagged behind its closest peer, ExxonMobil, in the recent energy rally. The reason for this underperformance lies in Chevron's ongoing acquisition efforts, specifically its pursuit of Hess, which has encountered roadblocks due to Exxon's involvement in a major oil project.Despite the short-term uncertainty surrounding the Hess deal, Chevron remains a compelling long-term investment. Even if the Hess acquisition falls through, the company has the agility to shift gears and explore alternative acquisition targets. This flexibility, coupled with Chevron's financial strength and its impressive track record of annual dividend increases, makes it a stock that savvy investors should consider adding to their portfolios.Investors who are willing to look beyond the near-term challenges will be rewarded with an attractive 4.2% dividend yield while they wait for the dust to settle. Chevron's ability to weather the storm and its potential to capitalize on future growth opportunities make it a stock that could deliver substantial returns for patient, long-term investors.

MPLX: The Complete Package for Income and Growth

MPLX, a master limited partnership (MLP), has been a standout performer in the energy sector, with its units gaining around 25% so far this year. Despite this impressive rally, the MLP still offers an attractive investment proposition, thanks to its combination of high yield and growth potential.MPLX's current yield of more than 8% is a testament to its compelling valuation and its ability to consistently increase its distributions. The partnership has delivered three consecutive years of double-digit distribution growth, a testament to its strong cash flow generation and conservative payout ratio.Looking ahead, MPLX is well-positioned to continue expanding its midstream footprint, which will drive further growth in its cash flows and distributions. The company has several projects underway, providing visibility into its growth trajectory through 2026. With a conservative leverage ratio and a cash-rich balance sheet, MPLX has the financial flexibility to fund its growth initiatives and maintain its attractive distribution.For investors seeking a balanced approach to energy investing, MPLX offers the complete package – a high-yielding income stream coupled with the potential for capital appreciation. Its reasonable valuation and robust growth prospects make it a compelling choice for those comfortable with the unique tax structure of MLPs.

Occidental Petroleum: Capitalizing on Acquisitions to Strengthen its Balance Sheet

Occidental Petroleum has been a laggard in the energy sector this year, with its shares trading 15% lower as of the time of writing. Investors may have been concerned about the impact of the recent decline in oil prices on a company with a significant debt burden. However, Occidental is taking the right steps to bolster its cash flows and reduce its debt, making it an attractive investment opportunity.Occidental's recent acquisition of CrownRock has been a game-changer. The $12 billion deal, including debt, has already started paying dividends, with Occidental reporting its highest operating cash flow of the year in the third quarter. More importantly, the company has committed to divesting assets and repaying debt worth around $4.5 billion within a year of the CrownRock acquisition, and it has already made significant progress, repaying $4 billion in debt in the third quarter alone.The CrownRock acquisition has also enabled Occidental to raise its full-year production guidance for the Permian Basin, further bolstering its cash flow generation. As Occidental continues to strengthen its balance sheet, it will be better positioned to weather the volatility in commodity prices and capitalize on future growth opportunities.For investors seeking a commodity stock with a strong balance sheet, Occidental Petroleum presents a compelling opportunity. The company's focus on debt reduction and its ability to generate robust cash flows make it a stock worth considering, especially while the market may be overlooking its recent progress.