After oil prices rose to multiyear highs in the mid-$70s per barrel earlier this summer, they have hung in the high $60s in August so far as the resurgent coronavirus spurs international travel restrictions while the number of people receiving vaccinations steadily rises. Oil prices are likely to remain stable while the global economy recovers amid the global pandemic, says Rob Thummel, senior portfolio manager at TortoiseEcofin in Overland Park, Kansas.
Taking into account the lack of clear direction for oil and the intensifying push to combat climate change, here are seven valuable energy stocks to add to a portfolio.
MPLX LP (MPLX)
MPLX LP, a midstream energy logistics firm that transports and stores gas and refined petroleum products, is a large-cap MLP formed by Marathon Petroleum Corp. (MPC) The dividend yield is 10.1% as of Aug. 10. The company reported second-quarter net income of $706 million, compared to net income of $648 million for the second quarter of 2020. Its management team is well run and has bought back units from the partnership's excess cash flow since 2020, Thummel says.
Source: https://finance.yahoo.com/news/10-best-energy-stocks-buy-191617467.html
▶️ 3Speak