Citi: Chevron, ConocoPhillips, Total are best ways to play new energy wave

|About: Chevron Corporation (CVX)|By:, SA News Editor

Big oil companies are in the early stages of a new cycle of profitability, and the best stocks to play the wave are Chevron (CVX), ConocoPhillips (COP) and Total (TOT), Citigroup analysts say.

Most companies took rising energy prices as justification for increasingly marginal investment, the firm says. but the winners in this cycle "will be those that can reverse this trend, better aligning their business with the needs of customers for cheaper energy," the Citi team says.

CVX is a leader in new oil sources in the Gulf of Mexico, COP's main growth driver is U.S. shale, and TOT has slowed high-cost developments, making the three Citi's “best value-adjusted opportunities” in the sector.