An Energy Stock to Leverage the Oil Dip

OilOil prices started the year with strong growth as there were signs that the global economy was gradually recovering. In the last month, this recovery has taken a hit, with increased COVID-19 infection rates in Europe, the threat of new lockdowns, and safety concerns surrounding the widely used AstraZeneca vaccine. The vaccine in question has since been cleared for safety, and the risk of new widespread lockdowns is now diminishing. Oil ended a five-day slide on Friday, and futures settled around $61 – $65 per barrel.

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Analysts see the recent oil dip as temporary. Energy stock upsides are highly likely. Exxon Mobil Corp. (NYSE: XOM) is one stock where investors could leverage the conditions. Down -7.42% over five days when the markets closed last night, an upside is possible. The average target price of $60.52 and the high-end target price of $90.00 will appeal to new investors and those looking to expand their positions.

Exxon Mobil’s stock market performance is heavily influenced by confidence in the crude oil market. With oil prices stabilizing and likely to increase along with the global economic recovery, this is a smart pick for any mainstream investor. A dividend yield of 6.22% means that there’s also income to go along with the price growth potential.

Key Data:

  • 1 Year Price Growth: 77%
  • YTD Price Growth: 64%
  • 3 Month Price Growth: 28%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

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