Why These 2 Big Oil Stocks Jumped in October
Shares of BP (NYSE: BP) and Total SA (NYSE: TOT) jumped in late October to finish the month up 5.8% and 4.1%, respectively. That handily beat the performance of their U.S.-based peers ExxonMobil (NYSE: XOM), which finished up just 1.7%, and Chevron (NYSE: CVX), which actually finished down 1.4%.
Luckily for investors, the reasons are pretty straightforward.
In October, the stock market was kinder to oil majors from overseas than to their U.S. industry counterparts. Image source: Getty Images.
Source: Fool.com
BP plc ADR Stock
€34.00
-0.580%
With 9 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 40 € shows a slightly positive potential of 17.65% compared to the current price of 34.0 € for BP plc ADR.
