Big Oil Spending Spree: Should Investors Buy or Sell on the Acquisition Bonanza?
Merger mania has gripped the oil patch this year. Oil giant ExxonMobil kicked things off by agreeing to acquire Pioneer Natural Resources for more than $60 billion. Fellow oil behemoth Chevron followed that up by agreeing to buy for $60 billion.
More deals are likely. This consolidation wave has a few Fool.com contributors growing more cautious about the sector. They have their eyes on three oil stocks in particular -- Valaris (NYSE: VAL), ConocoPhillips (NYSE: COP), and Equinor (NYSE: EQNR) -- as the current merger wave washes over the oil patch.
Jason Hall (Valaris): Count me with those who hope to see the end of fossil fuels as a major source of global energy sooner rather than later. Sadly, I don't expect it to happen as quickly as many expect. Big Oil will remain relevant for years, largely because of its ability to acquire and integrate new assets with existing operations.
Source Fool.com
Hess Corp. Stock
Our community is currently low on Hess Corp. with 9 Buy predictions and 14 Sell predictions.
On the other hand, the target price of 177 € is above the current price of 120.66 € for Hess Corp., so the potential is actually 46.69%.
