Hot Off the Presses: Pickens’ Latest Energy Stock Picks
We are always trying to keep our readers as up to date as possible, with the latest and greatest energy stock picks. T. Boone Pickens recently stated his favorite picks for the upcoming months. Some of these are repeats from the last article we posted, so we have narrowed down new picks. Investment Underground has done great due diligence, check out the research on our favorites.
Canadian Natural Resources (CNQ) is engaged in acquiring, exploring, developing, producing, marketing and selling of crude oil. The North Sea, offshore West Africa and Western Canada are the main locations for the company’s operations. The P/E ratio for the company is 46.02, and dividend yield being 0.84. the stock last traded at 43.76, above the 50 and 200 day moving averages.
The company is heavily tied to oil prices and after a brutal Q1, the company believes that the forward outlook is in agreement with the bottom reached so far. Forest fires in May did not help the bottom line and with the Alberta agreement and Horizon Oil sands in our midst, the bottom does appear to be a thing of the past.
Murphy Oil Corporation (MUR) primarily operates as a holding company operating businesses in oil and gas exploration company. It is also involved in the refining and marketing of crude oil. The current stock price for Murphy is $69.71, whereas its 52 week bracket is $48.14 to $78.16 with P/E ratio and dividend yield being 14.70 & 1.58 respectively.
The stock is currently looking oversold on RSI and the moving averages look like they are flattening out or falling. However, the company is ‘refocusing’ on upstream business, which will benefit from high oil prices. The exit from loss-making refining should help the company stay on course with earnings, which took a positive turn for the first time since Jun 2010.
The Canadian oil sands are beginning to see some action recently, and if that is an area of the energy sector you are looking to explore, CNQ could be a great option. In addition, MUR is refocusing, which could potential mean good things for their stock holders. Each of these new picks from T.Boone are solid, and worth a second look.
Quote taken from report by Investment Underground, Read the entire article here.
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