Price of oil going negative today or at below zero what would be a good Oil stock to buy because you know it's going to go back up once the madness is over. ?
Price of oil going negative today or at below zero what would be a good Oil stock to buy because you know it's going to go back up once the madness is over. ?
Chevron and Exxon. They both are trying to keep paying dividends. At present, CVX pays 6% and XOM pays 8%. They both have less debt than most of the other oil companies. Another oil related stock to look at is Schlumberger. They are an oil services company and will probably weather the storm better than most. Many of the oil services companies are about to go under. As they do, Schlumberger will pick up the slack.
I just bought some Chevron today at 81.74. Most of the analysts on CNBC think that the dividend is safe but there is always a risk.
I like and am adding RDS/B for the dividend. Currently around 11% at current trading levels. I also have a few shares of Chevron and Exxon. IMO, oilfield service stocks will come back, but it may take years. HAL and SLB would be my choices, but there is more pain coming.
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I bought both Chevron and Royal Dutch at the lows. Cannot beat the dividends. But, it all depends on how long oil prices stay low.
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