3 Companies That Dodged a Bullet in 2020: Are They Buys?

It's hard to be excited over three stocks that are down 30%-35% already in 2020, but the reality is it could have been a whole lot worse for General Electric (NYSE: GE), Dover (NYSE: DOV) and Pentair (NYSE: PNR)! While the COVID-19 pandemic and its impact on the economy are obviously hitting the headlines, oil prices are slumping nearly 70% to around $20 a barrel, and energy companies are slashing spending accordingly. Fortunately, all three of these companies have taken significant measures to reduce their exposure to oil in recent years. Is it enough to make them attractive stocks in 2020?

Image source: Getty Images.

Former CEO Jeff Immelt's decision to make a slew of acquisitions in the oil services sector -- culminating in the buyout of Baker Hughes (NYSE: BKR) -- proved to be ill-timed as the price of oil slumped from around $100 a barrel in 2014 to around $50.

Source Fool.com