PSX - $120 Oil: 3 Dividend Stocks That Still Look Cheap
The global economy is a perfect storm for near-record-high oil prices. Geopolitical tensions have taken much of Russia's supply off the market. Years of underinvestment paired with the brutal COVID-19-induced downturn left global supply unprepared for the rebound in demand for natural gas, gasoline, jet fuel, and diesel.
The average stock in the energy sector has gained over 60% year to date, but there are still bargains -- even after the run-up. Emerson Electric (NYSE: EMR) , Devon Energy (NYSE: DVN) , and Phillips 66 (NYSE: PSX) are three dividend stocks that are worth considering now.
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$120 Oil: 3 Dividend Stocks That Still Look Cheap