Oil Is Down: 3 Energy Stocks to Look at Now
Oil prices have gone on a wild ride since Russia invaded Ukraine. They topped out well in the triple digits last summer before steadily declining in recent months on macroeconomic concerns.
However, while oil prices might be down right now, strong demand in China and growing supply issues could push them higher in the coming months. Because of that, now looks like a good time to consider buying oil stocks. Enbridge (NYSE: ENB), Devon Energy (NYSE: DVN), and (NYSE: CVX) stand out to a few Fool.com contributors as compelling opportunities right now.
Reuben Gregg Brewer (Enbridge): Oil prices are notoriously volatile and there's nothing that any oil producer can do about that or its impact on top- and bottom-line performance. But investors can sidestep the inherent risk of falling oil and natural gas prices by owning a midstream company like Enbridge. It owns the infrastructure, like pipelines, that help to move energy around the world. The important piece of the story, however, is that it charges fees for the use of its assets. Thus, it tends to produce highly reliable cash flows through the energy cycle.
Source Fool.com
Chevron Corp. Stock
With 36 Buy predictions and not a single Sell prediction Chevron Corp. is an absolute favorite of our community.
With a target price of 168 € there is a slightly positive potential of 17.27% for Chevron Corp. compared to the current price of 143.26 €.
