Last Friday, the energy giant reported its second-highest-ever quarterly profit, roaring past Wall Street estimates, driven by massive global demand for its oil and gas and rising production from its U.S. oilfields.
The company sports a 3.25% dividend. The Credit Suisse target price is $202, well above the $181.41 consensus target. Chevron stock closed on Friday at $179.98.
Coca-Cola
This remains a top Buffet holding, as he owns a massive 400 million shares. Coca-Cola Co. (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. It has an incredibly strong worldwide brand, with 40% overseas sales.
The company’s portfolio features 20 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, it is the number one provider of sparkling beverages, ready-to-drink coffees and juices and juice drinks.
Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy Coca-Cola beverages at a rate of more than 1.9 billion servings a day. Also remember that the company also owns 16.7% of Monster Beverage, which continues to deliver big numbers.
Coca-Cola’s earnings topped Wall Street analysts’ estimates last week $0.69 per share against projections of $0.64. Revenue was slightly ahead of expectations as well, at $11.05 billion against $10.52 billion.
Investors receive a 2.90% dividend. Truist Financial’s $75 target price is a Wall Street high. The consensus target for Coca-Cola stock is $66.94, and Friday’s close was at $60.76.
Exxon Mobil
This mega-cap energy leader trades at a reasonable valuation and offers investors an excellent entry point. Exxon Mobil Corp. (NYSE: XOM) is the world’s largest international integrated oil and gas company. It explores for and produces crude oil and natural gas in the United States, Canada, South America, Europe, Africa and elsewhere.
Exxon also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and specialty products, and it transports and sells crude oil, natural gas and petroleum products.
Top Wall Street analysts expect Exxon to remain a key beneficiary in this higher oil price environment, and most remain strongly positive about the company’s sharp positive inflection in capital allocation strategy, upstream portfolio, and leverage to a further demand recovery, with Exxon Mobil offering greater downstream/chemicals exposure relative to peers.
The energy behemoth reported a per-share profit of $4.68, smashing Wall Street’s $3.89 consensus view, on a huge jump in natural gas earnings, continued high benchmark oil prices and strong fuel sales.
Exxon Mobil stock comes with a 3.29% dividend, which will continue to be defended. The $133 Jefferies price target compares with a consensus target of $109.88, which is lower than Friday’s close at $110.70.
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