Oil stocks to buy ahead of next OPEC meeting

EOG Resources

EOG Resources (EOG) is in the oil and gas exploration business. What sets EOG apart from many of its competitors is that it seeks to develop sites where the company is able to turn a 60% return, after tax, on the product it sells. What this means is that even when oil trades below $50 a barrel the company is still able to turn a profit. This allows the company to hold up better when oil prices move lower, and allows it to really turn a tidy profit as prices start to rise. With oil prices firming this year, analysts expect to see full year earnings growth of 137.9% for the current year, and an additional 142.6% next year. Shares are currently trading at $96.95, and analysts have an average price target of $106.45 on the stock.


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Michael Fowlkes

Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.

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