The recent shake-up in the market amid uncertainty surrounding President Donald Trump’s tariffs has provided an attractive buying opportunity for Chevron , according to Matt Maley of Miller Tabak. The firm’s chief market strategist joined CNBC’s ” Power Lunch ” on Friday to give his view on the energy giant, as well as two other names he thinks investors should be watching during these volatile times. Here’s what Maley had to say. Chevron Chevron shares have taken a hit recently, sliding nearly 5% this week and more than 18% in April. But Maley thinks the stock is reaching oversold levels. “The stuff that’s going on with OPEC has been largely priced in, and I just don’t think we’re going to get the drill, baby, drill here in the U.S. that the president is hoping for because it’s just not profitable for these companies to do it,” he said. “I still worry that Israel is going to strike Iran, and if they shut down the Strait of Hormuz, we have problems there,” the strategist continued. Maley noted that Chevron has a 5% dividend yield. Along with that, the stock has a forward price-to-earnings ratio of around 13, per FactSet. “This is something that will pay you while you wait during all this market volatility,” he added. Pfizer When it comes to the broader market, Maley thinks there is room for it to “fall further” from here, prompting him to look at more defensive names such as Pfizer . The pharmaceutical giant has a P/E ratio over the next 12 months of around 7, leading Maley to say that “it’s a nice, cheap stock.” Pfizer has a dividend yield of nearly 8%. “Some of their drugs — their heart drug, their cancer drug — [are] doing very well,” Maley continued. Similar to Chevron, Pfizer has also shed nearly 5% this week, coming under pressure as Trump said Tuesday that a “major” tariff on pharmaceuticals is going to be announced ” very shortly .” Amazon While there are some concerns around consumer confidence, Maley stresses that Amazon is “much more than just a consumer company.” “This is another one where the return on investment they’re going to have on [artificial intelligence] is going to be a lot better than it is for say like a Microsoft,” the strategist said. Even as the stock is not “wildly cheap,” it is still “very reasonable,” Maley said. He recommends buying a stock like this “once or twice a month … every month for the rest of the year,” adding that “your average price at the end of the year is going to look really good three years from now.” “It’s impossible to … get the exact bottom on the stock, but this is such a great franchise, such a great company, such a great management. I think [if] you play it like that in a gradual way, you’ll do very, very well,” he continued. Shares of this “Magnificent Seven” name have surged 8% this week, outpacing the broader market. That said, they have still fallen more than 15% this year. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
This energy stock will ‘pay you while you wait’ during market volatility, Miller Tabak’s Matt Maley says
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