July 6, 2021
Oil prices are surging as a comeback in the U.S. economy boosts demand. A large part of the surge in oil prices was delayed production decided by OPEC oil group producers. Even though the stage has been set for energy stocks, they have lagged oil price growth. However, things could change as prices reach the break-even point for the energy sector, as many oil stocks have consensus buy ratings from analysts across Wall Street brokerage firms.
The biggest buy share companies are Bonanza Creek Energy Ink, Green Plains, and ConocoPhillips, while high price target expectations come from Chevron, Phillips 66, and Devon Energy Corp. Regardless, many of the leading energy companies in the S&P 500 are big projected winners by the end of the year.
FINSUM + Magnifi: These energy stocks play well for many investors but especially income-oriented investors looking for strong dividend yields.
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