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One Oil Stock Gets a 5-Year 'Buy' Rating: Energy Analyst

Despite posting a 51 percent decline in profit Friday, Chevron's 11-percent increase in oil production offers an opportunity to investors, said Phil Weiss, senior energy analyst at Argus Research.

"Today's result was a really good one on the production side," Weiss said.

"They beat expectations pretty strongly there [and have] a good mix of oil — it looks pretty good."

Weiss said he expects the second-largest oil company to continue with exploration, citing a big, upcoming project in Australia. Chevron is his favorite name in the oil sector, and he's placed a five-year buy rating on the stock.

As for oil prices, Weiss said he thinks they're too high, and that they will average out at around $68 next year.

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CNBC Data Pages:

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CNBC Slideshows:

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Other Oil Stocks:

Exxon Mobil

Royal Dutch Shell

BP

ConocoPhillips

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Disclosures:

Members of Weiss' family own shares of either Chevron or Exxon Mobil.

Disclaimer

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