After oil prices rose to multiyear highs in the mid-$70s per barrel earlier this summer, they have hung in the high $60s in August so far as the resurgent coronavirus spurs international travel restrictions while the number of people receiving vaccinations steadily rises. Oil prices are likely to remain stable while the global economy recovers amid the global pandemic, says Rob Thummel, senior portfolio manager at TortoiseEcofin in Overland Park, Kansas.
Taking into account the lack of clear direction for oil and the intensifying push to combat climate change, here are seven valuable energy stocks to add to a portfolio.
Chevron Corp. (CVX)
Chevron is intent on remaining a traditional oil company and provides a generous dividend yield of 5.3%. Chevron plans to allocate $3 billion to technology during the next seven years to eliminate harmful emissions from its operations. In October 2020, the oil behemoth acquired Noble Energy, another oil producer, in a $13 billion deal including debt. Chevron is a classic value stock that an investor could add to a portfolio, says Robert Johnson, a finance professor at Creighton University's Heider College of Business. Berkshire Hathaway's (BRK.A, BRK.B) stake in CVX fell to 23.6 million shares in 2021.
Source: https://finance.yahoo.com/news/10-best-energy-stocks-buy-191617467.html
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