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Goldman: 6 stocks to ride lower oil 'tail wind'

An American Airlines plane takes off at the Miami International Airport.
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An American Airlines plane takes off at the Miami International Airport.

The price of crude oil is tumbling. It is down 13 percent for the month, 23 percent year to date and 56 percent in the last 12 months.

Goldman Sachs told clients in a note this week which companies will have the biggest boost to their bottom lines from sliding crude.

"Indeed the pullback in energy prices is likely to drive overall S&P 500 profit growth into negative territory for full-year 2015. With that said the news isn't all that bad particularly for those who take on oil and oil derivatives as input costs," wrote Goldman's Robert Boroujerdi.

"We think this tail wind still has some degree of discovery value with a number of companies citing the boost to margins from lower raw material. This tail wind is real and should provide a tail wind in future quarters," he added.

The analyst highlighted recent comments by the management of some of these companies on their quarterly conference calls that emphasized the benefits of lower commodity input costs.

American Airlines:

"Operating expenses excluding net special charges for the second quarter of 2015 were $8.8 billion, down 9.8 percent, primarily due to a 37 percent decrease in consolidated fuel expense. We remain unhedged, and our financial results continue to see a material financial benefit from the significant year-over-year decline in crude oil prices."

JetBlue:

"The lower fuel price environment played a significant role in our strong results, with our realized average fuel price of $2.13 down 31 percent versus the second quarter 2014."

Goodyear Tire:

"Lower spot prices today will turn up in our P&L (profit and loss) down the road, six months down the road."

Here are the six top Goldman "buy" rated stocks that benefit most from lower oil…

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