![]() ![]() The stock currently sports a forward dividend yield of 5.87%, with the company paying a 90 cents quarterly dividend ($3.60 per share annually). (NYSE:MRO) having lost 41.6% and 56.2%, respectively. The stock is down 45% in the year-to-date, with peers Valero Energy Corp. Most refiners have been badly hit by Covid-19 due to weak demand for oil products, and PSX has not been spared, either. ![]() #1 Safest Dividends: Phillip 66 Texas-based Phillips 66 (NYSE:PSX) is a downstream/midstream company with stakes in 13 refineries. However, if you belong to the bull camp and believe a big oil rally is in the cards, here are five oil and gas stocks to play the rebound. Oil prices have failed to retrace their pre-crisis levels fully, instead remaining range-bound at $40-$45. Wall Street is growing increasingly bold with its oil price prognostications, with Bank of America recently saying crude prices are on track to hit $60 during the first half of 2021 as the oversupply flips into a deficit. Meanwhile, the prospects of finding a Covid-19 vaccine appear bright, with no less than 170 teams in the race and even vaccines in the final stage of trials. Optimism is slowly returning to the oil markets thanks to the deep OPEC+ cuts and the latest report that shows producers have mostly been sticking to their pledged cuts. Since then, WTI and Brent prices have staged a nice recovery to trade at five-month highs. ![]() It is exactly four months since the historic oil price crash that sent crude prices into negative territory for the first time ever. ![]()
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