By Louis Navellier of InvestorPlace

NEW YORK ( TheStreet ) -- Crude oil prices are up +16% in 6 weeks. Dividend investors continue to seek out low risk, high yield stock picks. So you would think that the major crude oil and energy stocks are good buys right?

Wrong. The fact of the matter is that as we enter another earnings season, the numbers just aren't there for many crude oil blue-chips. Even with oil prices improving right now, the ship has sailed on Q3 and those profits are all over but the counting. And as many investors will see soon, those profits may not be as healthy as many crude oil stocks would like.

Here are 10 major energy stocks that are suffering right now and should be cut loose before earnings:


ExxonMobil (XOM)

Global oil and gas giant ExxonMobil ( XOM) has had a rough year in 2010. Since January, the stock has dropped -8.1%, compared to small gains by the broader markets. Over the past 12 months, the stock has dropped a total of -5.9% as well. Despite a small rally in September, XOM has still not been able to make up for its poor performance earlier in the year. Analysts have scaled back on earnings estimates this quarter, projecting EPS of $1.40, after an actual EPS of $1.60 last quarter.

Petrobras (PBR)

Petrobras ( PBR) is an integrated oil and gas company. Year-to-date, PBR stock has declined -22.9%. With a current stock price of $36.71, Petrobras is far from its 52-week high of $53.46 from January. While Petrobras does pay a dividend to its shareholders, the .4% yield is not exciting anyone. While PBR made some progress in September, investors should be wary of this energy stock because of its year-long performance.

BP (BP)

Since the well-known oil spill in the Gulf Coast earlier this year, BP ( BP) has been reeling. Over the past 10 months, the stock has dropped -28.7%. BP stock dropped an extraordinary -50.7% from late April to early July, thanks to the Gulf disaster. While the stock has regained since mid-summer, it is still well off its 52-week high of $62.38, with a current stock price of $41.41. In its last income statement, BP reported a net profit margin of -22.5%, which is surely causing headaches for company officials.

Total (TOT)

Operating in over 130 countries, Total ( TOT) is an integrated oil and gas company based in France. Since January, Total's stock price has slipped nearly -19%. After an EPS of $1.68 last quarter, experts are predicting a down quarter for the energy stock and have limited EPS estimates to $1.52. TOT currently trades at $51.83, making this a pricey energy stock that should be avoided based on its yearly returns.

Eni S.p.A. (E)

Headquartered in Rome, Eni S.p.A. ( E) is involved with oil and gas, power generation petrochemicals and engineering. This international company has also experienced a dismal 2010, as the stock has slid -14.2% since January. Likewise, Eni has missed three of its last four earnings estimates. The energy stock is currently trading at $43.39, which is almost $12 off its 52-week high from January. If its past earnings reports and stock performance are any indication, Eni is an energy stock worth dumping immediately.

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