2 Top Energy Stocks to Buy Right Now
Long-term investors need to think about both the good times and the bad times when selecting investments. That's particularly true when it comes to highly volatile areas like energy. The pandemic's impact on the sector has been very telling, and helps explain why you'll likely want to stick with giants like ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) today.
Since March 15, 2020, roughly the bottom of the last big oil market shock, Kosmos Energy (NYSE: KOS), a small oil producer with a focus on offshore drilling, has seen its stock go up a huge 440% or so. Crescent Point Energy (NYSE: CPG), a small onshore producer in North America, has seen its stock go up even more, advancing over 600%!
It's hard to look at gains like that and not be attracted to these energy stocks. There has to be something positive going on, though in this case the incredible rebound was related to massive stock price declines (more on this below). Essentially, investors moved past their fear, early in the pandemic, that tiny players like Kosmos and Crescent Point might be forced into bankruptcy by falling oil demand and prices.
Source Fool.com
