3 Top Oil Stocks You Can Buy Today
After a red-hot start to the year, oil prices have taken a breather recently. WTI, the primary U.S. oil price benchmark, has fallen more than 20% over the past month. That cooldown has caused most oil stocks to decline from their peak.
However, at more than $95 a barrel, WTI is still up nearly 30% for the year. That has most oil companies generating a gusher of cash flow these days. Most are returning the bulk of that windfall to shareholders due to the uncertain future for oil demand over the long term as the global economy decarbonizes. Because of that, investors can score some big-time oil-fueled income streams these days. Here are three top oil stocks to consider buying to cash in on the oil boom.
Devon Energy (NYSE: DVN) launched the oil industry's first fixed-plus-variable dividend framework last year. That strategy starts with a base dividend Devon can sustain at lower oil prices and a variable payment of up to 50% of its quarterly cash flows after deducting the base dividend. Both payouts have soared this year, thanks to higher oil prices.
Source Fool.com
