Why I Just Bought More of This Top Oil Stock
Oil prices are up sharply this year. Brent crude, the global oil price benchmark, has surged from $75 in early January to over $90 a barrel in recent days, a more than 15% rally. That has sent up most energy stocks, with the Energy Select SPDR ETF rising nearly as much as crude oil.
However, one notable laggard has been oil giant (NYSE: CVX), which is only up around 5% this year. It has significantly underperformed other energy stocks, including rival ExxonMobil (NYSE: XOM), which has rocketed nearly 20% this year.
That relative underperformance is why I recently bought more Chevron stock. Here's why I think it's one of the top oil stocks to buy these days.
Source Fool.com
Chevron Corp. Stock
€149.58
-1.020%
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a slightly positive potential of 19.67% compared to the current price of 149.58 € for Chevron Corp..
