3 Top Oil Stocks to Buy for the Long Haul
The fossil fuel industry is deeply out of favor with a world that is increasingly focused on saving the environment. However, that doesn't mean you can't find some good investment options there. You just need to be able to recognize which companies have something that sets them apart from the pack.
Here are three excellent energy stocks that investors might want to consider as long-term additions to their portfolios.
Roughly a decade ago, ConocoPhillips (NYSE: COP) spun off its downstream refining assets so it could focus solely on drilling for oil and natural gas. That was a bold move, transforming it from something of an integrated energy company into a pure-play exploration and production operation. It also cut its dividend in 2016 during a period of industry weakness in an effort to reset the business and put itself on a stronger growth trajectory. That decision appears to have been a good one -- investors should note that it was able to increase its dividend payout in 2020 despite the steep oil price declines driven by the pandemic.
Source Fool.com
