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Shell (NYSE:SHEL)

Headquartered in London, U.K., Shell is a multinational energy giant with operations in more than 70 countries. With more than 47,000 Shell-branded retail service stations, the company says it serves around 33 million customers on a daily basis.

It’s a staple for global investors, too. Shell is listed on the London Stock Exchange, Euronext Amsterdam and the New York Stock Exchange (NYSE).

The company’s NYSE-listed shares are up 10% in 2024.

Piper Sandler analyst Ryan Todd sees an opportunity in the oil and gas supermajor. The analyst has slapped a price target of $85 per share. Considering that Shell trades at around $72.80 today, Todd’s price target implies a potential upside of around 17%.

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Chevron (NYSE:CVX)

Chevron is another oil and gas supermajor that could benefit from a commodity boom.

In 2023, the company reported earnings of $21.4 billion and cash flow from operations of $35.6 billion.

Earlier this year, Chevron’s board approved an 8% increase to the quarterly dividend rate to $1.63 per share.

The stock has climbed around 8.5% in 2024.

Barclays analyst Betty Jiang has given Chevron a price target of $203 — implying a potential upside of 25% from current levels.

Exxon Mobil (NYSE:XOM)

Commanding a market cap of over $470 billion, Exxon Mobil is bigger than Shell and Chevron.

The company also boasts the strongest stock price performance among the three in 2024 — Exxon shares are up around 14.5% year-to-date.

It’s not hard to see why investors like the stock: the oil-producing giant gushes profits and cash flow. Exxon reported $36.0 billion in profits in 2023 and generated $55.4 billion of cash flow from operating activities.

Solid financials allow the company to return cash to investors. In 2023, it distributed $32.4 billion to shareholders, including $14.9 billion in dividends and $17.4 billion in share repurchases.

UBS analyst Josh Silverstein put a price target of $150 on Exxon — around 28% above where the stock sits today.

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Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

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