T. Boone's Top Energy Picks
T. Boone Pickens knows his stuff when it comes to the energy industry. Its always good to know about his favorite picks. He has the knowledge to know whats best, and has the insider view to make those choices. Want to know his current favorites? Investment Underground has the scoop.
" EOG Resources, Inc. (EOG) – Although EOG is up year-to-date, the stock is not quite trading at the $110 to $120 range it was earlier in the spring. Regardless, the company still has had a number of positive headlines. The company predicts strong growth for 2011, and dividends were increased for the 12th time in 12 years. Financial success aside, EOG Resources was also named one of Fortune’s 100 Best Companies to Work For. Of course though, EOG’s future prospects will be highly dependent on the price of oil. Oil prices have been shaky as of late due to uncertainty surrounding the U.S. debt ceiling and the eurozone’s fiscal problems, but it is hard to imagine oil prices going much lower. With Saudi Arabia increasing production and the International Energy Agency having already put out some strategic reserves, it seems unlikely that supply can go up further. Keep in mind that EOG’s focus on oil over natural gas has been increasing recently, and this change looks like it will be beneficial.
Noble Corp. (NE) – Year-to-date Noble Corp. hasn’t appreciated much, but the stock has traded as high as $46. Perhaps the most exciting headlines for this company came a year ago when it announced that it was buying Frontier Drilling. This was a tremendously important deal that significantly increased Noble’s number of offshore drilling units. Through Noble’s acquisition of Frontier Driling, the company also operates the FPSO Seillean, which has played an important role in helping with the Deepwater Horizon oil spill. Many analysts are excited about this stock – of those who cover it, 56% recommend buy and 37% recommend hold.Furthermore, a poll by Bloomberg showed that on average analysts believe the stock could increase over 30% in the next year. Noble will release earnings on July 20th, so look for this to play an important role in the stock’s near-term performance."
Find additional information here: http://turnkeyoil.com/2011/07/22/t-boones-top-energy-picks/