Stock price when the opinion was issued
Just reported their highest-ever profit of under $40 billion. Pays a 3.5% dividend that should grow 8-10% annually in share buybacks. Shares have been outperforming the MSCI world since late 2020. Oil demand continues to outstrip supply. Announced share buybacks and a dividend hike.
One of the big, global energy plays. It does look like energy is turning, which is the single most important driver for this company. Prefers Schlumberger (SLB-N). Feels the theme is very early, but the right stability factors seem to be in play. All these companies have technical formations that gets him interested. (See Top Picks.)