This Is My Favorite Energy Stock Right Now
In 2020 I sold ExxonMobil (NYSE: XOM) stock to capture some losses and offset capital gains elsewhere in my portfolio. I replaced it with TotalEnergies (NYSE: TTE) for one very specific reason, and that reason still holds today, even after the energy market rebound over the past year or so. Here's why TotalEnergies remains my favorite energy stock.
Exxon is an incredibly well run oil major, with a diversified portfolio that traverses the industry from drilling (upstream) to chemical and refining (downstream). Although not perfect, the portfolio diversification helps to soften the blow when oil prices tank. In 2020, when oil was tanking, the company basically told the world that it was sticking to its oil and natural gas roots. It has since faced material investor pushback and has gotten at least a little more serious about greening its portfolio, though some see this as only lip service.
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Source Fool.com
