CVX - 3 Top Energy Stocks to Buy in February
2024-02-04 05:30:00 ET
The energy sector is coming off a more turbulent year. Oil and gas prices were down while interest rates rose. As a result, most energy stocks slumped in 2023.
Last year's challenges have many energy stocks trading at compelling levels. Chevron (NYSE: CVX) , Energy Transfer (NYSE: ET) , and NextEra Energy (NYSE: NEE) stand out from the pack as great buys this February. Here's why they could energize your portfolio in 2024 and beyond.
Shares of Chevron have slumped about 15% over the past year. While lower oil prices have weighed on the oil giant's stock price, it has also been under pressure due to its bold deal to buy rival Hess . Chevron is paying about $60 billion to acquire Hess, which will enhance its growth while adding some risks.
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3 Top Energy Stocks to Buy in February