Shares of Exxon Mobil (NYSE:XOM) and Petroleo Brasileiro (PBR) have gained significant momentum in the past year, on the back of rising crude oil prices. Which stock is currently a better investment?.After a very challenging 2020, energy stocks have made a strong comeback in 2021. In fact, the Energy Select Sector SPDR ETF (NYSE:XLE) has gained more than 50% year to date (YTD), compared to the S&P 500 gains of 22.5% in this period.
A key driver of this outperformance is the rising prices of crude oil. This week, oil prices hit 7-year highs and Goldman Sachs (NYSE:GS) increased its price target for oil to $110 per barrel.
Given these factors, let’s see which oil stock between Exxon Mobil (XOM) and Petroleo Brasileiro (PBR) is a better buy at current price levels.