5 Stocks for $150 Oil

Any corrections should be treated as buying opportunities

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5 Stocks for $150 Oil

Oil Stock #5 PetroChina (PTR)

ptr 5 Stocks for $150 OilPetroChina (NYSE: PTR) is larger than favorite CNOOC and, therefore, does not grow as fast, but you can get it at a cheaper price. It was Warren Buffett’s investment that sent the stock into overvalued territory three years ago, but after he sold the stake, shares are now remarkably depressed. They trade at just nine times forward earnings, with earnings growth forecasted to be 24% in 2011, probably based on a much lower average oil price than we have at present.

Most earnings estimates for major oil companies had taken into consideration a sub-$100 average oil price for 2011. So, if the price of crude surges based on the factors I outlined earlier, cheap oil stocks like PetroChina will see strong performance by the end of 2011.


Article printed from InvestorPlace Media, http://investorplace.com/2011/04/best-oil-stocks-to-buy-ceo-lukoy-bp-ec-ptr/.

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