Dividends4Life: Seven Dividend-paying Oil Investments to Purchase During a Market Correction and Russian Saber-Rattling

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:

Click here to have future posts delivered to you for free!



Post a Comment

Note: Only a member of this blog may post a comment.


Popular Posts Last 30 Days