In recent years, alternate energy stocks have seen a large number of investments in the markets. Investing in oil stocks has become a great way to diversify your investment portfolio. Although these stocks come with their own set of risks, there are some safe stocks that offer you an excellent return for your money. In fact, here are a few top oil stocks that are currently grabbing everyone’s attention.
Chevron is one of the widely known oil companies globally that aims to offer reliable and affordable energy solutions. Amidst the current oil chaos, Chevron is a high-yield stock to invest your money in. Recently, Chevron cut its management spending by 48% and its operating expenses by 12%. Most importantly, it discontinued its buyback program to make sure that its dividends of 6.1% do not get affected.
Those looking for top oil stocks to buy should definitely consider this option. Based on production and proven reserves, this is one of the world’s largest E&P companies. This company is involved in the effective production of oil and natural gas through its innovative techniques. The stock has a payable cash dividend of $0.43 per share, and its previous closing was $39.27, while its market cap was $42.6 billion. In addition, with its recent acquisition of Concho Resources, its market cap is likely to increase by $10.9 billion.
This is an independent company that focuses on the production and exploration of oil and gas. The company uses its years of experience and emphasis on development and asset optimization to safely develop energy resources. It previously closed at $8.58 with a market cap of $642.6 million. In addition, its low PE ratio allows it to smoothly make it to the list of top oil stocks to buy.
Diamondback is another oil stock company that has garnered a great reputation in the markets. It focuses on the development and exploration of natural gas and oil reserves. Its stock previously closed at $40.52 with a market cap of $6.524 billion. Moreover, the company, in its fiscal report, announced a cash dividend of $0.375 per share.
Due to the oil and gas industry’s huge potential during economic growth, purchasing its stocks can turn out to be an excellent investment. However, it is recommended by the experts that one must do their part of research in order to choose the best stocks for investment. Mentioned above are some of the top oil stocks that you can consider buying.