Oil sinks on recession fears, but we're using the decline to add to a high-yielding energy stock

We're buying 100 shares of Coterra Energy at roughly $26.47 each. Following Friday's trade, the Charitable Trust will own 1,500 shares of CTRA, increasing its weighting in the portfolio to 1.37% from 1.28%. Oil-related stocks were getting hit hard Friday, but we're viewing the group's decline with an opportunistic lens. The cause of the moves is the sharp drop in the price per-barrel of West Texas Intermediate crude , the American oil benchmark.

Lastly, we think the demand picture will improve as China gets more serious about reopening its economy and relaxing its rolling Covid restrictions. The energy stock we're adding to Friday afternoon is Cottera , which is about half oil and half natural gas. Shares of the exploration and production company have been in a slump ever since the company reported its third-quarter results and provided a disappointing update on its proved reserves. Although this news on Nov.

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