Better Oil Stock: Chevron vs. Devon Energy
The geopolitical conflict in the Middle East has the world watching oil and natural gas prices. The daily flow of news can drive energy prices higher or lower, depending on how fast-changing events are perceived by financial markets. This geopolitical conflict is unique, but this dynamic is not new.
If you are looking to invest in the energy sector because oil and natural gas prices are rising, you need to think beyond the current geopolitical events. Which is why most long-term investors will prefer a business like (NYSE: CVX). And why a stock like Devon Energy (NYSE: DVN) could be higher risk than you may think.
Chevron and Devon are both well-respected energy companies. However, they have vastly different production profiles. Devon is focused on the onshore U.S. market, with exposure to five energy-producing regions. The recently announced plan to acquire Coterra Energy (NYSE: CTRA) will eventually extend that to six. The direction of U.S. energy prices is what drives Devon Energy's business, not Brent Crude, the global energy benchmark.
Source Fool.com
Chevron Corp. Stock
The stock is one of the favorites of our community with 47 Buy predictions and 1 Sell predictions.
As a result the target price of 175 € shows a slightly positive potential of 8.36% compared to the current price of 161.5 € for Chevron Corp..
