Oil Is Volatile; Here Are 3 Dividend Stocks That Protect You From That Volatility
Oil prices are notoriously volatile. Over the past year, crude oil has topped out around $90 a barrel and been down in the $60s. That volatility can have a big impact on the cash flows produced by oil companies.
However, some oil companies are better positioned to weather the oil sector's volatility. (NYSE: CVX), Enterprise Products Partners (NYSE: EPD), and Enbridge (NYSE: ENB) stand out to a few Fool.com contributors for their ability to mitigate some of the impact of volatility on their cash flows. Because of that, they're great oil dividend stocks to buy for those concerned about the sector's volatility.
Reuben Gregg Brewer (Chevron): West Texas Intermediate (WTI) crude prices fell to zero in 2020 thanks to the economic upheaval caused by the coronavirus pandemic. There were some technical issues around that drop, but it was a shocking reminder of how volatile energy markets can be. Chevron increased its dividend in 2020, even though the energy downturn eventually pushed its bottom line into the red. In fact, Chevron has increased its annual dividend for an impressive 37 years and counting.
Source Fool.com
Chevron Corp. Stock
The stock is one of the favorites of our community with 35 Buy predictions and 2 Sell predictions.
As a result the target price of 165 € shows a positive potential of 27.33% compared to the current price of 129.58 € for Chevron Corp..
