CVX - Forget Chevron Buy This Magnificent High-Yield Oil Stock Instead
2024-07-13 18:03:00 ET
Chevron (NYSE: CVX) is a fine and worthy company, and it represents an excellent way to get exposure to a relatively high price of oil. At the same time, there's a significant amount of uncertainty hanging over the stock in connection with its planned $53 billion acquisition of Hess .
That's why it makes sense for Chevron investors to think about diversifying to avoid stock-specific risk but retaining exposure to oil in their portfolio by buying a few other such companies. And one of them is the 8.7%-yielding small cap Vitesse Energy (NYSE: VTS) . Here's why.
First, a few words on Chevron and its ongoing dispute with ExxonMobil and the China National Offshore Oil Corporation (CNOOC) over Chevron's intended acquisition of Hess. The dispute centers around the Stabroek block of drilling sites in offshore Guyana.
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Forget Chevron, Buy This Magnificent High-Yield Oil Stock Instead