#5 - Chevron (NYSE:CVX)
Turning our attention to energy stocks brings us to Chevron (NYSE:CVX). Energy stocks were among the biggest losers in 2020. In fact at one point, oil prices briefly went negative. But the outlook for energy stocks greatly improved in 2021. And Morgan Stanley (NYSE:MS) analysts believe that oil prices will rise to $90 a barrel in the second half of the year.
That’s reason enough to choose a stock with a strong balance sheet as you’ll find with Chevron. But many energy investors are eyeing companies that offer a “both/and” approach. This means that they want to buy energy stocks that can serve as both a best-in-class oil and gas stock as well as a participant in a clean energy future.
To that end, Chevron is making strategic renewable energy investments. In the short term, the company is investing in renewable natural gas, renewable diesel and sustainable aviation fuel. And long-term Chevron is making investments in hydrogen and carbon capture technology.
About Chevron
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
Read More - Current Price
- $162.63
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $174.93 (7.6% Upside)
