Investors in Exxon Mobil (NYSE:XOM) stock have had a strong 2021 so far.
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XOM stock is up over 33% year-to-date (YTD) and 40% over the past year. Yet regular InvestorPlace.com readers are familiar how challenging 2020 was for many oil names like Exxon.
In the initial months of the pandemic, cash flows struggled. Exxon faced sluggish demand and lower commodity prices.
The stagnant oil market led to the removal of XOM stock from the Dow Jones Industrial Average (DJIA), but developments in 2021 have meant an improvement in our economy. Now, the demand for oil and natural gas are higher. As a result, XOM stock has had a strong run-up in price and trades shy of $55.
Top Oil Stocks To Watch Right Now: Galaxy Resources Limited (GALXF)
Galaxy Resources Limited is an Australia-based company engaged in mineral exploration and processing. The Company’s principal activities include the production of Lithium Carbonate and exploration for minerals. Its segments include Australian operation, Argentina operation and Canada operation. The Australia operation segment includes the development and operation of the Mt Cattlin spodumene mine and exploration for minerals. The Argentina operation segment includes the development of the Sal de Vida project and exploration for minerals. The Canada operation segment includes the development of the James Bay project and exploration for minerals. The Mt Cattlin spodumene project is located over two kilometers north of the town of Ravensthorpe in Western Australia. The Sal de Vida Project is located in north-west Argentina. Its James Bay project is located in northwest Quebec, over two kilometers south of the Eastmain River and approximately 100 kilometers east of James Bay. Advisors’ Opinion:
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Galaxy Resources [ASX:GXY] (OTCPK:GALXF) – Price = AUD 3.42
Galaxy Resources is an Australian pure play lithium miner with 3 lithium projects globally.
Top Oil Stocks To Watch Right Now: Amira Nature Foods Ltd(ANFI)
Amira Nature Foods Ltd. engages in processing, distributing, and marketing packaged Indian specialty rice, primarily basmati rice; and other food products. The company provides various types of basmati rice, specialty rice and value add meals, ready-to-eat snacks, ready to heat meals, edible oils, and organic products for retailers under the Amira brand; and non-basmati rice. It also sells bulk commodities, including wheat, barley, legume, maize, sugar, soybean meal, onion, potato, and millets to trading firms. Amira Nature Foods Ltd. sells its products to buyers in the Asia Pacific, the Middle East, Europe, North Africa, and North America; and distributors and retail chains in India. The company was founded in 1915 and is based in Dubai, the United Arab Emirates.