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💎 Reveal Undervalued Stocks Hiding in Any Market Get Started
3 Very Cheap Energy Stocks to Buy on the Dip
© Reuters. 3 Very Cheap Energy Stocks to Buy on the Dip
There are some compelling reasons to buy the dip in energy stocks. For one, CAPEX in the energy sector remains quite low despite the rebound in price. Additionally, demand for oil and natural gas has proven to be quite resilient over the past year despite the shutdowns and decrease in economic activity. Therefore, investors should look to add the following energy stocks: Oasis Petroleum (NASDAQ:OAS), Apache Corporation (NASDAQ:APA), and Continental Resources (NYSE:CLR). .Since the stock market bottomed in March of last year, energy stocks have experienced a strong rebound. Of course, the biggest factor has been the sharp turnaround in oil and natural gas prices. This is largely due to demand returning to pre-coronavirus levels, while supply remains constrained.
As a result, energy stocks have also posted massive earnings beats on a year-over-year basis. Many energy stocks are cheaper than they were a year ago because their earnings have outpaced gains in their equity prices. And, this has become even more pronounced in recent weeks with the sell-off in energy stocks on concerns about growth slipping due to the outbreak in coronavirus cases with the Delta variant.
However, there are some compelling reasons to treat this dip as a buying opportunity. For one, CAPEX in the energy sector remains quite low despite the rebound in price. Additionally, demand for oil and natural gas has proven to be quite resilient over the past year despite the shutdowns and decrease in economic activity. Therefore, investors should look to add the following energy stocks: Oasis Petroleum (OAS), Apache Corporation (APA), and Continental Resources (CLR).
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