Commodity prices are high, and so too are the valuations of many top oil and gas stocks. ExxonMobil (NYSE:XOM), which is a leading oil producer, has been a top company to invest in this year, with oil prices rising due to the war in Iran. The top oil and gas stock is now up close to 50% since the start of the year, recently hitting not only a new 52-week high but also a new all-time high. This stock, which investors have typically loaded up on for its long-term stability and dividend growth, has surged tremendously in value this year. The concern for investors, however, may be twofold. One is that the yield has come down as a result of its higher price tag, and the second is that with a high valuation, future returns may be limited. Is it too late to buy the stock?
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