3 Reopening Stocks to Buy in July
The world effectively shut down in the early days of the coronavirus pandemic, causing massive economic dislocations. Now, a snapback is taking place and you can see it clearly in the oil industry. Here's why Chevron (NYSE: CVX), Enterprise Products Partners (NYSE: EPD), and Magellan Midstream Partners (NYSE: MMP) are still, for the right investors, good reopening stocks to consider in July.
Chevron is one of the world's largest integrated energy companies, with assets that span from the upstream (energy drilling) to the downstream (chemicals and refining) sides of the industry. When countries shut down to slow the spread of the coronavirus oil prices plunged and so did Chevron's stock, given that its top and bottom lines are tied to that commodity's price. Now that the world is starting to reopen, oil prices are rallying -- and so is Chevron.
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Source Fool.com
