Oil Stocks – Best Oil Stocks 2019
Oil Stocks – Oil Stocks will continue to rebound in 2019 as global demand increases and production cuts by OPEC over the years have deflated the price. The price of oil remains down 40% from the high last year but I do see a 30% rebound to $70 per barrel in 2019. Finding the best oil stocks to buy is a bit tricky because there are individual oil stocks to choose from as well as risky ETF’s. The ETF’s are dangerous because they are based on future contracts that expire. Long term, these Oil ETF’s (UWTI, UCO, ect) will erode and face heavy demoralization so you want to invest in good oil companies such as Continental Resources (CLR). Below is a list of my Top Oil Stocks 2019.
Best Oil Stocks – Continental Resources (CLR) is the top oil stock in 2019. Continental Resources (CLR) has been making higher lowers after every crash in the past three years. When Wall St. was selling oil stocks hard years ago, I was telling everyone to buy CLR hand over fist if you wanted a good oil stock to invest in. Even during my victory lap here, I would still recommend buying CLR stock. CLR remains a strong buy below $40 on the next big correction.
I have a strong feeling that the price of crude oil will hit $65-$70 in 2019 so almost all oil stocks are a strong buy. CLR can easily rally back to $60-$65 in 2019 so this oil stock on all major dips.
Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River, including various plays in the South Central Oklahoma Oil Province (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), Northwest Cana and Arkoma Woodford areas of Oklahoma. The Company’s estimated proved reserves are approximately 1,230 million barrels of crude oil equivalent (MMBoe) with estimated proved developed reserves of over 520 MMBoe. The East region includes undeveloped leasehold acreage east of the Mississippi River. The Company’s crude oil production is sold to crude oil refining companies at market centers.
Small Cap Oil Stocks – One small cap oil stock to watch is Oasis Petroleum (OAS). OAS tends to fall off a cliff when oil prices tank but then rebound 50-100% from the bottom. As long as the price of oil remains above $50, I feel Oasis Petroleum (OAS) stock can easily rebound to $10 per share from $6.
Oil Stock Picks 2019 – Another good oil stock in 2019 will be BP Amoco. BP is a good oil stock because the company pays a 6% dividend. Shares recently bottomed around $36 and has since recovered to $40 in 2019. For the rest of the year, BP is an oil stock that I feel can rebound to $45 per share and you get another 6% dividend just for holding tight. BP stock is one best oil stocks to buy due to the dividend and stock perfromance.
Other Oil Stocks to Buy – Below is a list of additional oil stocks to watch in 2019
Whiting Petroleum (WLL) – WLL is a popular Oil Stock because they bought Kodiak Oil & Gas (KOG) several years ago. Whiting has a lot of debt which is common with all oil companies but if the price of oil rises alot, this oil stock can easily double or triple. If oil rises back to $100 in a few years, this company will likely be bought out. Whiting Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States. It sells oil and gas to end users, marketers, and other purchasers. WLL has a 2019 price target of $42 from the current price of $30.