With oil trading back under $100 a barrel and to the lowest levels in three months, many across Wall Street are starting to walk away from the energy trade. Those who walk away now may do so at their own peril, as the supply and demand balance is extremely delicate now. Any major disruption could make the black gold skyrocket.
J.P. Morgan’s Equity Strategist Marko Kolanovic, who was ranked as the number one equity-linked strategist in last year’s Institutional Investor survey, is very positive on energy and commodities as a whole. He sees the recent pullback as an opportunity for investors to add or initiate positions. He also sees the possibility for Brent crude to go to $190 a barrel, even to skyrocket to $380 a barrel if there was a cut of 5 million barrels per day.
We screened our 24/7 Wall St. energy research database looking for the highest yielding stocks in the energy and energy master limited partnership (MLP) universe. These seven are all rated Buy and come with among the highest dividends in the sector.
The post JP Morgan Sees Oil at $190 a Barrel or More: 7 Big Dividend Stocks to Buy Now appeared first at 24/7 Wall St.