My Top Oil Major Stock to Buy in October
A few years ago I sold ExxonMobil (NYSE: XOM) for tax reasons and replaced it with TotalEnergies (NYSE: TTE), a move that I'm still quite happy I made. With oil and natural gas prices recovered from 2020 lows, however, investors need to think about downside protection in the highly volatile energy industry. And then there's the clean energy future to worry about. I think TotalEnergies is strongly positioned to deal with both issues.
Investors have a habit of getting caught up in market moves, to the upside and downside. Oil plunged during the early days of the coronavirus pandemic as demand for energy waned. At that point it seems like investors thought energy prices would never recover. They did, rising to over $100 a barrel just a couple of years later as demand came back. Integrated energy stocks fell sharply and recovered, as you would expect. Smaller, more-focused energy producers witnessed even larger stock price swings.
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Source Fool.com
