3 Oil Stocks to Buy Before the Bull Market Returns
Energy companies are printing mountains of money. It makes the recent selloff in oil stocks seem like a no-brainer buying opportunity. Given the strong correlation between companies in the industry, nearly all of them should rebound once buyers return to embrace equities. That said, I find the three oil stocks below particularly compelling. As far as money printing goes, the energy sector saw eye-popping earnings growth of 290% versus the year-ago quarter, according to FactSet. Credit for the boon goes to ballooning oil prices. The average price of crude oil has gone from $66.17 in the second quarter of 2021 to $108.52 in Q2 this year. Wall Street has been quick to bid energy stocks back up, and the sector now finds itself in an uptrend. Meanwhile, the SP 500 just scored its best monthly gain (up 9.1%) since November 2020. It could be signaling the bull market is back and is yet another reason to buy oil stocks. CVX Chevron $153.64 OXY Occidental Petroleum $59.01 DVN Devon Energy $56.
3 Oil Stocks to Buy Before the Bull Market Returns
Energy companies are printing mountains of money. It makes the recent selloff in oil stocks seem like a no-brainer buying opportunity. Given the strong correlation between companies in the industry, nearly all of them should rebound once buyers return to embrace equities. That said, I find the three oil stocks below particularly compelling. As far as money printing goes, the energy sector saw eye-popping earnings growth of 290% versus the year-ago quarter, according to FactSet. Credit for the boon goes to ballooning oil prices. The average price of crude oil has gone from $66.17 in the second quarter of 2021 to $108.52 in Q2 this year. Wall Street has been quick to bid energy stocks back up, and the sector now finds itself in an uptrend. Meanwhile, the SP 500 just scored its best monthly gain (up 9.1%) since November 2020. It could be signaling the bull market is back and is yet another reason to buy oil stocks. CVX Chevron $153.64 OXY Occidental Petroleum $59.01 DVN Devon Energy $56.