Investors are buying energy stocks in record amounts after a dip in oil prices

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Investors are buying energy stocks in record amounts after dip

Oil prices touched a low dating back to December 2021 on Monday. The energy sector of the S & P 500 is down more than 3% for the month. The Energy Select Sector SPDR Fund has fallen about 4% in March. With those declines, however, last week saw the biggest inflows into energy since 2008, Bank of America equity analyst Jill Carey Hall said in a note Tuesday. Oil prices turned higher on Tuesday and energy was the best performing sector.

Targa Resources , which provides midstream natural gas and natural gas liquids services, has buy ratings from about 86% of the analysts who cover it. The average price target on the stock implies it has about 40% to rise from current levels. There is also Halliburton , which has buy ratings from 82% of its analysts. It's the name with the highest upside potential on our list, based on its average target price, at 59.4%. Its stock price is down about 19% for the year.

 

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Bad idea 🏆

Oil prices are going to remain low for a long time because of other financial crisis that we are still going to face. Not all the domino's have fallen

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