“10 great stocks to own because oil prices have surged: Goldman Sachs”
July 7, 2021
“Mehta outlined 10 oil stocks he is bullish on in a new piece of research on Tuesday: (1) Occidental Petroleum (OCY); (2) ExxonMobil (XOM); (3) Ovintiv (OVV); (4) Diamondback Energy (FANG); (5) ConocoPhillips (COP); (6) EQT Corporation (EQT); (7) Pioneer Natural Resources (PXD); (8) Devon Energy (DVN); (9) Hess (HES); and (10) Schlumberger (SLB).
The analyst puts the 10 stocks into a few key investment themes:
- Turnaround stories: OCY; XOM; OVV
- M&A winners: FANG; COP; EQT; PXD; DVN
- Company-specific stories: HES; SLB
“We project Brent will sustain $75-$80/b over the next 18 months in our financial models, enabling deleveraging and improved returns,” Mehta says of his underlying thesis on the aforementioned oil names…”