My Top Oil Stock to Buy Right Now
In 2020 I sold ExxonMobil (NYSE: XOM) and bought French energy giant TotalEnergies (NYSE: TTE), then known just as Total. There were tax reasons for the move, but also a desire on my part to own an oil stock with a better defined clean energy plan. Halfway through 2021, I still think TotalEnergies is the best option for investors in the oil space. Here's why.
With the world starting to reopen for business, oil demand has picked up again. That's been good for all of the energy sector's major players. However, it could obscure some of the important takeaways from events in 2020.
For example, TotalEnergies repeatedly noted that it recognized the value of dividends to its investors and promised that it would be able to support the dividend so long as oil averaged around $40 per barrel. European peers Royal Dutch Shell (NYSE: RDS.B) and BP (NYSE: BP) both cut their dividends in the face of market adversity. And while Chevron and Exxon each held the line, they didn't provide the "line in the sand" for investors to monitor that TotalEnergies did.
Source Fool.com
