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EnvestorFirst (< 20)

Energy Stock Picks Working in the Gulf



May 20, 2011 – Comments (0) | RELATED TICKERS: SGY , WTI , ATPAQ.DL

Lately, the oil industry hasn’t had a good track record when it comes to offshore drilling. With current consideration for more offshore drilling to drive the cost of gas down, it is important to know which oil stocks will still benefit their investors. John Udovich came up with three great stock picks if offshore drilling picks back up.


 "Stone Energy Corporation (NYSE: SGY) is an independent oil and natural gas company that acquires, explores, develops and operates oil and natural gas properties in the Gulf of Mexico and the Appalachia regions of the USA. Stone Energy Corporationrecently reported net income of $39.8 million for 1Q2011 on oil and natural gas revenue of $197.9 million while for 1Q2010, SGY had a net income of $25.4 million on oil and natural gas revenue of $163.8 million. Moreover, Beacon equity research has identified SGY one of its five “bargain bin” energy stocks while Rodman & Renshaw gives SGY an “outperform” rating. Stone Energy Corporation recently closed at $28.75 and has a 52 week trading range of $10.30 to $35.94 a share."


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