Best Oil Stocks Of October 2024 – Forbes Advisor
While the broader S&P 500 index is up by roughly 20% this year, the energy sector as a group has underperformed significantly in 2023. In contrast, oil stocks were some of the few shining stars during the bear market of 2022. In fact, energy was the only sector to post a gain that year. This year? Not so much.
Of the 23 energy sector stocks in the S&P 500, only two—Marathon Petroleum (MPC) and Targa Resources (TRGP)—have performed as well as or better than the benchmark index year-to-date.
But even those two leaders are not perfect. Both offer rather anemic dividend yields of less than 2.3%, and that is not the kind of income potential many investors look for. Furthermore, Marathon and Targa have…
