Go Long Oil with Exxon and the DIG (XOM, DIG)

Looking to place a safe bet?  Everyone is, and a ton of money went into buying the world's largest publicly traded company Exxon Mobil (NYSE:XOM).  If you don't want to pick a single oil stock, go with the ProShares Ultra Oil & Gas (ETF) (NYSE:DIG).

We've talked up the DIG in the past, YTD the ETF is up 18% and its made up of the best oil/gas companies you can buy.   If oil stocks are going to start trending higher, the ProShares Ultra Oil & Gas (DIG) is your play, its made up of the following stocks (here's the top ten as of 11/19/09):

With a 28% bet on Exxon, there's good reason to like the ETF, today Exxon Mobil Corp. (XOM) topped WSJ.com's list at the close on Friday for Buying on Weakness , which tracks stocks that fell in price but had the largest inflow of money. See the full list .

Barclays Capital upgraded Exxon today to “Overweight” from a previous “Equal-weight,” and raised its price target on the stock to $92 from a prior $90.

Barclays said it expects Exxon to post over 3% organic production growth next year, and an average annual growth rate of 2.6% from 2009 to 2013. It also cited XOM as being attractively priced compared to its energy-related peers.

Happy safe investing and make sure to give XOM and DUG a look this weekend.

Disclaimer: No positions in any of the securities mentioned in this publication.