I'm Putting My Cash Stockpile to Work on These 3 Stocks
The market's rebound last year led me to tap the brakes on new investments to start building up more cash in case the market took a breather. I sold a few losing positions while allowing my dividends and cash transfers to accumulate so that my cash position is now more than 5% of my portfolio's value.
I plan to put some of that cash stockpile to work in the coming weeks now that the market has cooled off to start 2024. (NYSE: CVX), Kenvue (NYSE: KVUE), and VICI Properties (NYSE: VICI) are among the first three stocks I plan to buy. Here's why they're at the top of my buy list.
Chevron is coming off a down year. The oil giant's stock has fallen about 20% over the last 12 months, weighed down by oil prices and its pending acquisition of rival Hess. However, that sell-off has Chevron trading at an attractive dividend yield (4.2%) and value (given the growth it can deliver at lower oil prices).
Source Fool.com
Chevron Corp. Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 20.46% compared to the current price of 148.6 € for Chevron Corp..
