Goldman Sachs picks its favorites among major oil companies and refiners.
Goldman Sachs analysts have tweaked a list of their favorite energy stocks. They have highlighted what they call “pockets of upside” among major oil-and-gas companies and refiners.
Among the top picks were Marathon Petroleum Corp. (MPC), Valero Energy Corp. (VLO), Husky Energy Inc. (HSE), and Chevron Corp. (CVX).
Investors have been “acutely focused on U.S. crude builds.” However, oil-stock increases can be attributed to other factors such as an OPEC supply push in December, they said.
“We continue to expect strong growth from US oil production in 2017. We believe the global oil market can accommodate this growth near-term.”