3 Oil Stocks to Buy Before It's Too Late
Oil prices have caught fire in recent months, surging 30% over the past 90 days. That rally has pushed crude prices over $90 a barrel. The main driver has been OPEC's decision to reduce its supply.
Oil could continue rising. However, most oil stocks have yet to catch the current wave and start rallying. That underperformance might not last much longer. Devon Energy (NYSE: DVN), (NYSE: CVX), and Marathon Oil (NYSE: MRO) stand out to a few Fool.com contributors as the leading oil stocks to buy right now so that investors don't miss their potential rally.
Reuben Gregg Brewer (Devon Energy): Devon Energy is an onshore U.S. oil and natural gas producer. Its top and bottom lines are tied directly to energy prices, given the commodity nature of the energy business. West Texas Intermediate (WTI) crude, a key U.S. energy benchmark, has risen from around $73 per barrel in March to roughly $100 of late. That's a notable shift from the downtrend that was in place from mid-2022 to that March 2023 low point.
Source Fool.com
Chevron Corp. Stock
The stock is one of the favorites of our community with 32 Buy predictions and 2 Sell predictions.
As a result the target price of 166 € shows a positive potential of 38.15% compared to the current price of 120.16 € for Chevron Corp..
