IMO putting money in all oil stocks has the same risk, rather I focus on the top 2 companies and buy one of them., the diversify with different companies.
In this way, I own XOM (not Chevron, nor BP), moderate profit margin, payout appx 66% with 4.15% Dividend.leader in USA.
Next best one I see now is WFC, selling one of the low end, good dividend, profit margin, but kind of legal issue with government scrutiny. They will ultimately pay some penalty and come out of this mess, but stock is too good.
My own preference is MASI, medical equipment company, it was down, but up 5% since I bought. No dividend, but selling less than fair value, good profit margin. The other leader is Sunnyvale based ISRG, best to buy at DIP.
Next one is RS, steel and aluminium, company moderate profit margin, good dividend for last 5 years and good growth last five years. This one of the best in steel companies, benefit is Trump steel tariff, better to hold long with nice dividend.