Why I Just Bought More Total Stock
France's Total (NYSE: TOT) is one of a small group of global integrated energy giants. Its roughly-7% yield, meanwhile, is one of the highest in its exclusive peer group, and I'm using those dividends to buy more shares every single quarter. I like the company's oil and natural gas exposure -- but the real allure is bigger than that. Here's why I just bought more Total stock, and while I'll keep using dividend reinvestment to buy more.
I owned U.S. energy giant ExxonMobil (NYSE: XOM) before the 2020 coronavirus pandemic upended the oil market. The stock's high yield and long history of annual dividend increases were two key reasons for that investment, but I also appreciated that Exxon was maintaining its focus on oil and natural gas, and that it had a rock-solid balance sheet. None of this has changed, but when I needed to offset capital gains elsewhere in my portfolio I sold my Exxon stake to harvest some tax losses. I took the opportunity to reevaluate my position in the energy space.
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Source Fool.com
