3 Top Oil Stocks to Buy in September
Oil stocks have stunned the markets this year, surging alongside oil prices. No one predicted oil prices to rebound as dramatically the way they cratered last year: The West Texas intermediate (WTI) crude price, for example, is hovering over $83 per barrel right now after going negative in April 2020. Not surprisingly, investors poured big money into oil stocks, and if you think there's no steam left, think again.
Despite surging oil prices, the largest oil producers have still capped production and capital spending and are using all the cash instead to repay debt, repurchase shares, and pay big dividends to shareholders. Such stocks should still be able to fetch you handsome returns even if oil prices were to dip. With earnings around the corner, here are three such top oil stocks to buy this month.
ConocoPhillips (NYSE: COP) has pretty much all the ingredients that go into making an oil stock a solid pick: It is growing low-cost reserves aggressively, generating boatloads of cash, and rewarding shareholders richly.
Source Fool.com
