NEW YORK (TheStreet) -- Energy XXI (Bermuda) (EXXI), Eni (E), BP (BP - Get Report), China Ming Yang Wind Power (MY), Sinopec (SNP - Get Report), BreitBurn Energy Partners (BBEP), InterOil (IOC), TransAtlantic Petroleum (TAT), ReneSola (SOL) and Complete Production Services (CPX) are energy stocks with nearly 92% buy rating, as polled by Bloomberg.

Goldman Sachs and Morgan Stanley are bullish on crude oil prices and have raised their price forecast for the remainder of the year. Morgan Stanley has raised its Brent 2011 target by 20% to $120 a barrel, while Goldman expects crude to break out into record territory of above $130 a barrel. Recent Energy Department data indicate that U.S. crude inventories declined year-over-year to sustain the price momentum.

The Memorial Day weekend signals the start of the summer driving season and may sustain gasoline prices in the short term. At close Tuesday (May 24), WTI crude traded at $99.60 per barrel, while Brent crude settled at $111.10 per barrel.

Below are 10 energy stocks that received analysts' top buy rating. The stocks have 20% to 100% upside potential, based on analysts' average 12-month price targets. These stocks are expected to deliver an average 50% return over the next one year.
10. Eni ( E) is an integrated energy company operating in the oil, natural gas and petrochemicals sectors with presence in 77 countries.

Operating profit and net profit rose 18.4% and 21.6%, respectively, during the first quarter of 2011 from the year-earlier quarter. Oil and natural gas production declined 8.6% due to the shutdown of activities in Libya.

Eni is expanding its presence in energy-rich countries like Venezuela and Iraq. The company has signed agreements for developing the Junin 5 oilfield and has discovered the maxi gas field Perla, offshore Venezuela. In Iraq, the company has secured the license to develop the giant Zubair oilfield. In addition, the company has oil assets in countries like Norwegia and Ghana.

Eni is planning a capital expenditure of $19.5 billion for full year 2011. The stock is expected to gain 33% in the next one year and is trading at 7.7 times its estimated 2011 earnings. Analysts recommend a 60% buy rating on the stock.

9. BP ( BP - Get Report) is a global integrated oil and gas company.

Net sales during the first quarter of 2011 stood at $85.3 billion, increasing 17% from the same period last year. Net income rose 17% year-over-year to $7.1 billion during the same quarter.

Net cash outflow stood at $2.8 billion, consequent to the Gulf of Mexico oil spill and increased working capital expenses. Impacted by Gulf of Mexico oil spill, net cash from operating activities stood at $2.4 billion during 2011 first quarter, compared to $7.7 billion in the prior-year period.

The company has announced a strategic alliance with Rosneft Oil Company to explore and develop three license blocks in the Russian Arctic region.

Capital expenditure for the first quarter was $4 billion.

As per analysts' consensus estimate, average gains are pegged at around 27% over the next one year. The stock is trading at 5.9 times its estimated 2011 earnings.

8. Sinopec ( SNP - Get Report) is a China-based integrated oil and gas, and chemical company.

Revenue jumped 34% during the first quarter of 2011, while net income improved 25%. First quarter output was 11 million tonnes of crude oil and 3.6 billion cubic meters of natural gas, representing negative 6% and 30% during the same period last year, respectively.

Sinopec owns eight of the top 10 refineries in the country. Its refining capacity is ranked second globally. With China switching to a new refined oil pricing mechanism in 2008, Sinopec's refining business has turned around after years of loss. However, when crude oil prices spike, the giant refiner suffers as it buys more than 70% of its crude supply from the global markets.

Analysts polled by Bloomberg recommend a 5% buy rating on the stock. Upstream asset injections from the parent company and changes to refined product pricing mechanisms are probable triggers for the stock on the upside. The stock has appreciated 25% during the last one year and consensus estimate expects a 25% increase over the next one year. The stock is trading at 6.5 times its estimated 2011 earnings.

7. Complete Production Services ( CPX) provides oil and gas companies products and services to develop hydrocarbon reserves.

The company reported 60% year-over-year increase in first quarter 2011 revenue to $495 million. Strong results from the pressure pumping, coil tubing and fluid management businesses accounted for the majority of the increase in revenue. Overall, the company's outstanding results from other geographic areas more than offset the impact of the challenging weather conditions seen during the first two weeks of February in North Texas and Western Oklahoma, which together contribute nearly one-third toward the company's revenue.

Net income was $39 million from a net loss of $2.7 million in the same quarter last year. Adjusted EBITDA, as a percentage of sales, was 25.3% for the first quarter compared to 18.1% in the March quarter of 2010, benefiting from increased activity by upstream companies, as well as the deployment of the company's second frac fleet in the Eagle Ford Shale.

Based on analysts' consensus estimate, the stock is expected to deliver 34% in a year's time and is currently trading at 9.4 times its estimated 2012 earnings. Analysts polled by Bloomberg recommend a 75% buy rating on the stock.

6. BreitBurn Energy Partners ( BBEP) acquires and develops oil and gas properties in the U.S. The company's assets primarily comprise of producing and non-producing crude oil and natural gas reserves in the states of Michigan, California, Florida and Kentucky.

Consistent with the past seasonal trends, total production in the first quarter of 2011 decreased to 1,629 million barrels of oil equivalent (Mboe) from 1,700 MBoe in the fourth quarter of 2010 as harsh winter conditions affected production.

Adjusted earnings before interest, tax, depreciation, amortization, declined from $59 million in the fourth quarter of 2010 to $56 million in the first quarter of 2011.

The company managed operating costs competently. Full-year lease operating expenses per boe stood at $17.7, below the lower end guidance range of $18.3 to $20.8 per boe, and 1% lower than 2009 operating expenses per boe. General and administrative expenses dropped to $24.5 million, falling below the lower end of the guidance range of $25 to $27 million. The stock is trading at 18.6 times its estimated 2012 earnings and has an impressive 78% buy rating.

5. China Ming Yang Wind Power ( MY) is a wind turbine manufacturer in China, specializing in the design, manufacture and service of wind turbines.

Total revenue stood at $213.4 million during the first quarter of 2010, increasing 39% over the first quarter of 2010. Net income for the period was $33.4 million, up 59% over the first quarter of 2010.

Gross margin for the first quarter was 26% as against 20.5% in the prior-year quarter. During the period, total wind turbine generators (WTG) commissioned by the company amounted to 198 units of 1.5 MW, representing 55% over the first quarter of 2010.

For 2011, the company targets to install 1,400 units of 1.5 MW WTGs and 100 units of 3 MW super compact drive WTGs. The stock is trading at 5.7 times its estimated 2011 earnings with an estimated 93% upside over the next one year.

4. ReneSola ( SOL) is a China-based manufacturer of solar wafers and solar module products.

Net revenue during the first quarter of 2011rose 59% from first quarter of 2010. Net income came in at $43.3 million as against $11.8 million in the prior-year quarter. Actual sales and earnings recorded during the fourth quarter topped analysts' estimates.

Regarding the business operations, Xianshou Li, ReneSola's CEO, said in a press statement, "We have witnessed a sharp decline in module ASPs but wafer pricing held strong during the quarter and our cost-reduction efforts allowed us to maintain a healthy gross margin of 30.7%. We made significant gains in reducing polysilicon cost during the quarter and are on target to increasing production towards the plant's annual capacity of 3,500 MT. As part of our cost-reduction initiatives, we have also ventured horizontally into wafer consumables and expect to launch steel wire production in the second half of this year."

Analysts have buy ratings of 79% and expect the stock to deliver 67% over the next one year. The stock is trading at 3.9 times its estimated 2012 earnings.

3. InterOil Corporation ( IOC) is an independent energy company operating in the upstream, midstream and downstream business segments.

Net profit reported for the first quarter of 2011 was $0.7 million compared to a net loss of $3.1 million during the same quarter of the prior year. The company's operating segments of corporate, midstream refining and downstream were profitable, while the development segments of upstream and midstream liquefaction yielded net losses. Total revenue increased to $243.7 million for the first quarter as against $178.8 million for the same period in 2010.

InterOil's earnings before interest, taxes, depreciation and amortization for the quarter was a gain of $18.1 million, compared to a gain of $4.9 million in first quarter of 2010. Thus, improved performance of the refining and downstream segments and higher foreign exchange gains contributed towards higher gross margins.

On the exploration prospects, Phil Mulacek, CEO of InterOil, said, "We continued prioritizing exploration prospect inventory by acquiring $7.3 million of additional seismic data which was expensed in the current quarter. Management believes the preliminary results of the seismic data demonstrate high prospectively for our acreage position, with 3 to 4 additional reef prospects. The Elk and Antelope fields are most important to us and our experienced management team is focused on delivering LNG results. We continue to work diligently with our LNG partners and look forward to completing a positive FID."

Analysts polled by Bloomberg recommend an impressive 83% buy rating on the stock and an upside of 83% over the next one year.

2. TransAtlantic Petroleum ( TAT) is a vertically integrated international oil and gas company engaged in the acquisition, development, exploration and production of crude oil and natural gas.

Transatlantic holds interests in oil and gas properties, both developed and undeveloped in Turkey, Morocco and California. Besides, the company owns drilling rigs and oilfield service equipment. In early Nov. 2010, TransAtlantic acquired the Thrace Basin gas field.

Net oil and gas production for full year 2010, after royalty, surged to 974,000 barrels of oil equivalent (boe), rising 133% from 2009 on improved output at the Selmo oil field. Additional production from the Arpatepe oil field and new production from the Thrace Basin gas fields contributed towards higher oil and gas output. In addition, the company provides third-party oilfield and contract drilling services in Turkey.

The stock has 83% buy ratings and is expected to deliver 101% upside over the next one year.

1. Energy XXI (Bermuda) ( EXXI) is an independent oil and natural gas exploration and production company with business interests in the U.S. Gulf Coast and Gulf of Mexico.

For the third quarter of 2011 fiscal, Energy XX1 reported earnings before interest, tax, and depreciation of $155.4 million, compared to $87.3 million in 2010 fiscal third quarter. Net profit was $14 million on revenue of $258 million and production of 41,400 barrels of oil equivalent per day during fiscal 2011 third quarter. The results include contribution from acquisitions made in certain Gulf of Mexico properties.

Increased production and cash flows strengthened the company's balance sheet as it managed to reduce debt by $80 million during the quarter. The stock has gained 139% in the last one-year and trades at 6.5 times its estimated 2011-enterprise value per EBITDA. Of the 13 analysts covering the stock, 12 rate a buy. The stock is expected to deliver 23.5% over the next one year, according to analysts' consensus estimate. The stock is trading at 13 times its estimated 2012 earnings.

>>To see these stocks in action, visit the 10 Top-Rated Energy Stocks portfolio on Stockpickr.