Think Oil Is Going Higher? 3 Dividend Stocks to Buy Now
The energy sector is up big so far in 2024, largely thanks to an 11% surge in the price per barrel of Brent crude oil (the international benchmark). Investors wondering how to approach the sector have come to the right place. There's always the balanced approach of investing in an integrated major like ExxonMobil or Chevron. Majors are good foundational choices if you're looking at where to start in oil and gas.
But the companies that directly benefit from higher oil prices the most are those that are solely in the business of producing oil and gas, known as exploration and production (E) companies. ConocoPhillips (NYSE: COP), Devon Energy (NYSE: DVN), and Diamondback Energy (NASDAQ: FANG) are three E worth considering now. While they are similar, they also have some key differences.
Here's a breakdown of each company to help you decide which dividend stock might be best for you.
Source Fool.com
Diamondback Energy Stock
With 49 Buy predictions and 2 Sell predictions Diamondback Energy is one of the favorites of our community.
However, we have a potential of -2.16% for Diamondback Energy as the target price of 184 € is below the current price of 188.06 €.
