Why I Just Bought More of This Top Oil Stock
Oil prices are up sharply this year. Brent crude, the global oil price benchmark, has surged from $75 in early January to over $90 a barrel in recent days, a more than 15% rally. That has sent up most energy stocks, with the Energy Select SPDR ETF rising nearly as much as crude oil.
However, one notable laggard has been oil giant (NYSE: CVX), which is only up around 5% this year. It has significantly underperformed other energy stocks, including rival ExxonMobil (NYSE: XOM), which has rocketed nearly 20% this year.
That relative underperformance is why I recently bought more Chevron stock. Here's why I think it's one of the top oil stocks to buy these days.
Source Fool.com
Chevron Corp. Stock
The stock is an absolute favorite of our community with 27 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 31.56% compared to the current price of 136.06 € for Chevron Corp..