The favorable outlook for oil is strengthened by the idea that if Saudi Arabia is not challenged for market share, it has “de-facto control” of pricing the commodity. BoA’ cited 1998, when Saudi Arabia las exploited a demand crisis to its advantage. In a post-COVID-19 world, BoA counseled that Saudi/Russian self-described “regulatory” actions to contain price volatility offer implicit support for the long-dated oil outlook.
Exxon Mobil Corporation (NYSE: XOM), a multinational oil and gas company based in Irving, Texas, received a $100 price objective from BofA. Among the major oil companies, XOM ranks as the investment firm’s top pick. The top holding in the Energy Select SPDR (XLE) exchange-traded fund is Exxon Mobil, said Bob Carlson, who leads the Retirement Watch investment newsletter. For those interested specifically in energy services, Carlson also recommends the ETF Tortoise North American Pipeline (TPYP). Chevron (CVX) could top the investment firm’s price target, depending on other factors. Suncor Energy Inc. (NYSE: SU), an integrated energy company based in Calgary, Alberta, specializes in production of synthetic crude from oil sands. Houston-based Occidental Petroleum Corp. (NYSE: OXY) is engaged in hydrocarbon exploration in the United States, the Middle East and Colombia, as well as petrochemical manufacturing. Hess Corp. (NYSE: HES), a New York-based independent energy company engaged in the exploration and production of crude oil.
Source: Dividend Investor
Related Articles:
Dividend Growth Stocks News
- 3 Dividend Stocks to Buy for Reliable Passive Income - The Motley Fool - 3/19/2025
- Jefferies Bets on Office REIT Comeback with These 2 High-Yield Dividend Stocks — Including One With 10% Yield - TipRanks - 3/19/2025
- 3 Dividend Stocks To Consider With Yields Up To 5% - Yahoo Finance UK - 3/19/2025
- What Stock Market Sell-Off? These 2 Dow Jones Dividend Stocks Are Near Their All-Time Highs - Yahoo Finance - 3/15/2025
- 2 Top Dividend Stocks Down More Than 12% That You'll Regret Not Buying - The Motley Fool - 3/19/2025
- Union Pacific Corporation (UNP) Dividend Stock Analysis - 3/14/2025
- Kellogg Company (K) Dividend Stock Analysis - 3/7/2025
- Texas Instruments Inc. (TXN) Dividend Stock Analysis - 2/28/2025
- Illinois Tool Works Inc. (ITW) Dividend Stock Analysis - 2/21/2025
- Best Buy Co., Inc. (BBY) Dividend Stock Analysis - 2/14/2025
Seven Dividend-paying Oil Investments to Purchase During a Market Correction and Russian Saber-Rattling
Posted by D4L | Thursday, February 24, 2022 | ArticleLinks | 0 comments »________________________________________________________________
Subscribe to:
Post Comments (Atom)
0 comments
Post a Comment
Post a Comment
Note: Only a member of this blog may post a comment.