3 Oil & Gas Stocks Under $10 That Can Gain More Than 35% According to Analyst Estimates

Asia's Tech News Daily

The oil & gas industry has benefited significantly from skyrocketing crude oil and natural gas prices in recent months. And limited supply and increasing demand for energy with the reopening of the economy should keep driving the industry’s growth. As such, Wall Street analysts expect low-priced oil & gas stocks Comstock Resources (CRK), Tellurian (TELL), and W&T Offshore (WTI) to gain more than 35% in price in the near term. So, we think it could be worth adding these stocks to one’s watchlist. Read on.

 registering a 6% CAGR. ,  represents a 39.7% potential upside. ,  represents a 109.6% potential gain ,  cash and cash equivalents ,  represents a 74.7% potential upside. ,  earning a master's degree in economics

shutterstock.com – StockNews

Increasing demand for energy with the economy’s reopening and limited supply has caused crude oil and natural gas prices to rise this year, benefiting the oil & gas industry. The oil and gas market is expected to reach $7.43 trillion by 2025, registering a 6% CAGR.

The EIA said in its latest STEO that “crude oil prices have risen over the past year as a result of steady draws on global oil inventories, which averaged 1.9 million barrels per day during the first three quarters of 2021”. Also, according to a Deloitte report, the oil and gas industry has rebounded strongly throughout 2021. The report also stated that oil and gas companies are rebuilding themselves for a strategic transformation in 2022.

Therefore, we think it could be worth watching oil & gas stocks Comstock Resources, Inc. (CRK), Tellurian Inc. (TELL), and W&T Offshore, Inc. (WTI), each of which is trading at below $10. Wall Street analysts expect these stocks to gain more than 35% in price in the near term.

Comstock Resources, Inc. (CRK)

CRK is an independent natural gas producer that is based in Frisco, Tex. Its operations are focused on the development of the Haynesville shale in North Louisiana and East Texas. As of December 31, 2020, the company had 5.6 trillion cubic feet of natural gas equivalent and 17 million barrels of oil equivalent of proved reserves. CRK also owns interests in 2,864 producing oil and natural gas wells. 

This month, CRK partnered with MiQ to independently certify its natural gas production in North Louisiana and East Texas. Through this partnership, the company’s commitment to produce natural gas under strict environmental standards and deliver differentiated, responsibly sourced gas has been highlighted.

CRK’s natural gas sales increased 190% year-over-year to $488.3 million for the third quarter, ended September 30, 2021. The company’s oil sales grew 137.3% from their year-ago value to $22.87 million. Its operating income rose 2,291.8% from the prior-year quarter to $295.75 million. Also, the company’s cash and cash equivalents came in at $27.84 million during the period.

Analysts expect CRK’s revenue to increase 89.4% year-over-year to $1.63 billion in its fiscal year 2021. The company has an impressive earnings surprise history; it beat the consensus EPS estimates in three of the trailing four quarters. Its EPS is estimated to grow 495.7% in the current year. The stock has soared 68.4% in price over the past year and 96.6% year-to-date. The $12 average analyst price target represents a 39.7% potential upside.

Tellurian Inc. (TELL)

Global natural gas company TELL, in Houston, Tex., engages in natural gas production and liquefied natural gas (LNG) marketing. The company has an approximately 27.6 million tonnes per annum LNG terminal facility and an associated pipeline in Southwest Louisiana. Also, TELL owns interests in 9,373 net acres of natural gas production assets and 72 producing wells located in the Haynesville Shale trend of northern Louisiana.

Last month, TELL transferred the listing of its common stock from the Nasdaq Capital Market to the NYSE American. The company believes that transferring the stock listing to the NYSE American will allow it to leverage the exchange’s prestigious trading platform to the benefit of the company’s shareholders.

During the third quarter, ended September 30, 2021, TELL’s total revenue increased 9.6% year-over-year to $15.64 million. The company’s loss from operations decreased 3.1% from its year-ago value to $14.52 million. Its net loss declined 45.9% from the prior-year quarter to $15.93 million. Also, the company’s loss per share declined 60% year-over-year to $0.04.

TELL’s revenue is expected to increase 105.6% year-over-year to $ 142.04 million in its fiscal year 2022. Its EPS is estimated to grow 69.6% in the current year. The stock has surged 123.5% over the past year and 160.2% year-to-date. The $7 consensus price represents represents a 109.6% potential gain.

W&T Offshore, Inc. (WTI)

WTI in Houston, Texas., is an independent oil and natural gas producer that explores and develops oil and natural gas properties in the Gulf of Mexico. The company has interests in 43 offshore fields in federal and state waters and 146 offshore structures. WTI sells crude oil, natural gas liquids, and natural gas and has 144.4 million barrels of oil equivalent.

WTI’s total revenues increased 84.7% year-over-year to $133.95 million in the third quarter, ended September 30, 2021. The company’s cash and cash equivalents grew 489.1% to $257.58 million as of September 30, 2021, from $43.73 million as of December 31, 2020. Its revenues under the Oil segment rose 59.4% from the prior-year quarter to $74.27 million. Also, the company’s revenues under the Natural segments increased 134.9% year-over-year to $45.14 million.

Analysts expect WTI’s revenue for its fiscal year 2021 to be $530.2 million, representing 53% growth year-over-year. The company has an impressive earnings surprise history; it beat the consensus EPS estimates in three of the trailing four quarters. Its EPS is expected to grow 143.8% in the current year. The stock has gained 66.2% in price over the past year and 63.1% year-to-date. The $6.2 average analyst price target represents a 74.7% potential upside.


CRK shares were unchanged in premarket trading Monday. Year-to-date, CRK has gained 96.57%, versus a 23.96% rise in the benchmark S&P 500 index during the same period.



About the Author: Priyanka Mandal


 registering a 6% CAGR. ,  represents a 39.7% potential upside. ,  represents a 109.6% potential gain ,  cash and cash equivalents ,  represents a 74.7% potential upside. ,  earning a master's degree in economics

Priyanka is a passionate investment analyst and financial journalist. After earning a master’s degree in economics, her interest in financial markets motivated her to begin her career in investment research.

More…

The post 3 Oil & Gas Stocks Under $10 That Can Gain More Than 35% According to Analyst Estimates appeared first on StockNews.com

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

BetMGM to turn a profit next year

FILE PHOTO: General view inside a deserted Ladbrokes shop in Harpenden (Reuters) – BetMGM is expected to turn a profit next year, while revenue in 2022 is likely to exceed ... Read more »

Here's how the new IRS life expectancy tables affect required withdrawals from IRAs, 401(k) plans

Tara Moore | Getty Images Anyone facing required minimum withdrawals from retirement accounts should note there's been a change to calculating those amounts. Starting this year, new IRS life expectancy ... Read more »

Here's what happens to your credit card debt as interest rates rise

boonchai wedmakawand | Moment | Getty Images Putting your purchases on plastic is about to cost you even more. The Federal Reserve is expected to raise rates three or four ... Read more »

Here's how rising interest rates may affect your bond portfolio in retirement

Marko Geber | DigitalVision | Getty Images Many retirees rely on bonds for income, lower risk and portfolio growth. However, as the Federal Reserve prepares to raise interest rates, some ... Read more »

BharatPe Co-Founder Ashneer Grover To Take Voluntary Leave Till March-End

Ashneer Grover, co-founder and managing director of BharatPe, will take voluntary leave from the company till March end. “He has informed the board of his decision to take voluntary leave from ... Read more »

KPMG fined £3m for ‘serious failings' in Conviviality audit

Photograph: Reinhard Krause/Reuters KPMG has been fined £4.3m for failures during its audit of the Bargain Booze owner Conviviality and severely reprimanded in the latest blow to its reputation. The ... Read more »

How To Avoid Spam Calls And Focus On Important Ones

It is not unusual to get a call from an unknown or unfamiliar number. Unfortunately, even with today’s technological advances, answering a call is never a good idea if you ... Read more »

Morgan Stanley is set to report fourth-quarter earnings — here's what the Street expects

James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019.Giulia Marchi | Bloomberg | Getty Images ... Read more »

Matchlog Raises $3 Million In Pre-Series A

MatchLog, a digital first container logistics optimisation platform, has raised $3 million in its pre-Series A round through Blue Ashva Capital, a leading Singapore and India-based VC, Rainmatter Climate and ... Read more »

3 Trustworthy High-Yield Dividend Stocks to Buy Now

High-Yield Dividend Stocks to Bank On Trust is hard to earn in the stock market, especially with all of the different factors going on that have led to a turbulent ... Read more »

3 Heavily Shorted Stocks With Squeeze Potential

The intense magnitude of 2021’s biggest short squeezes has attracted much interest from retail traders on the subject. There will almost certainly be more fireworks in 2022, but from where ... Read more »

Norwegian government and SV reach agreement on raising the electricity subsidy from 55 to 80%

The Norwegian government and the Socialist Left Party (SV) have reached an agreement on raising the electricity subsidy. The compensation level will increase from 55 to 80% from January. “The ... Read more »

Next-gen Community Investing Platform Threedots Raises $4 Million Led By Kalaari Capital

Threedots, a next-gen community investing platform, has raised $4 million in Seed round of funding led by Kalaari Capital. The round also saw participation from Better Capital, iSeed, Cloud capital, ... Read more »

TikTok owner ByteDance dissolves its investment arm

TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019.Dado Ruvic | Reuters BEIJING — TikTok owner ByteDance has disbanded ... Read more »

Statistics Norway: Large increase in the export price of salmon

The export price of fresh salmon last week averaged NOK 72.05 per kilo, an increase of 7% last week compared with the week. Measured in quantity, 17,600 tonnes of fresh ... Read more »

Procter & Gamble is a Hold For Now But Look to Buy in the Second Half

Growth for the consumer staples giant is a question of when, not if  Procter & Gamble (NYSE:PG) is down about 4% in the first weeks of 2021. Still, the stock ... Read more »

Heavy Selling: Indexes Toward Correction Levels

Another trading day deep in the red this Tuesday has sent the small-cap Russell 2000 index into correction territory, -3% for the day and -14% from its highs set just ... Read more »

UK watchdog to restrict advertising of cryptoassets

FILE PHOTO: The logo of the new Financial Conduct Authority is seen at the agency’s headquarters in the Canary Wharf business district of London LONDON (Reuters) – Britain's financial watchdog ... Read more »

Iron Ore Leads Industrial Metals Higher as China Pledges Support

1 / 2Iron Ore Leads Industrial Metals Higher as China Pledges Support (Bloomberg) — Iron ore led gains among industrial metals as China vows to use more monetary policy tools ... Read more »

UK has around 2,000 ‘Isa millionaires', figures show

The UK has around 2,000 “<a href="/tag/isa-millionaires“>Isa millionaires”, sitting on pots worth an average £1,412,000, HM Revenue and Customs (HMRC) figures show. Within the total, around 60 investors hold pots ... Read more »

NAV Oslo: Unemployment unchanged after corona relief

According to NAV Oslo, the easing of some of the infection control measures has had little effect on the unemployment figures. The figures are unchanged compared to last week. “The ... Read more »

Richemont sales jump shows luxury revival

FILE PHOTO: High jewellery are displayed at luxury goods maker Cartier store on Place Vendome in Paris ZURICH (Reuters) -Cartier owner Richemont said strong demand for its jewellery and watches ... Read more »

Number of fake banknotes hits record low in 2021 amid pandemic

SEOUL, Jan. 19 (Yonhap) — The number of fake South Korean banknotes touched a record low in 2021 due largely to the coronavirus pandemic, the central bank said Wednesday. The ... Read more »

Housing prices to further stabilize on monetary tightening: finance minister

SEOUL, Jan. 19 (Yonhap) — Housing prices are expected to further stabilize due largely to the central bank’s rate hikes and the Federal Reserve’s push for faster monetary tightening, Finance ... Read more »

Stock futures rise slightly after sell-off on Wall Street, more bank earnings ahead

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 10, 2022.Brendan McDermid | Reuters U.S. stock futures rose slightly in overnight ... Read more »

Almost nine out of ten cars sold so far this year in Norway were electric

Two weeks into 2022, among the new passenger cars sold, nine out of ten are electric cars, sales of new passenger cars will decline, according to the Road Traffic Information ... Read more »

What happens to your digital assets and cryptocurrency when you die? Even with a will, they may be overlooked

freemixer | E+ | Getty Images If you're like most Americans, you do not have a formal plan for what will happen to your assets when you die. Just 46% ... Read more »

Goldman CEO says he sees 'real wage inflation everywhere' after 33% jump in pay expenses

People walk along Wall Street in the rain on July 08, 2021 in New York City.Spencer Platt | Getty Images Wall Street firms are playing catch up with employee compensation, ... Read more »

Leaving a steady job to freelance or start your own business requires proper planning

Getty Images Millions of Americans are taking a step back and rethinking their work lives amid the “Great Resignation” and ongoing coronavirus pandemic. A record 4.5 million people quit their ... Read more »

Stocks making the biggest moves midday: Activision Blizzard, Goldman Sachs, Peloton, Moderna and more

A Peloton office sign is seen near a person riding a bicycle as the city moves into Phase 3 of re-opening following restrictions imposed to curb the coronavirus pandemic on ... Read more »

Is the ‘Zoom ceiling' the new glass ceiling? Experts worry remote work will hold women back

Margaret Bailey, pictured with her son, works hybrid, spending some time at home and some time in the office.Source: Margaret Bailey The ability to work remotely has been a lifeline ... Read more »

Mastercard strikes NFT payments deal with Coinbase amid a wave of recent crypto partnerships

A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021.Dado Ruvic | Reuters Mastercard said Tuesday it inked a deal ... Read more »

U.S. companies are expecting to pay a 3.4% raise to workers in 2022

Ezra Bailey | Stone | Getty Images U.S. employers expect to pay an average 3.4% raise to their workers in 2022, according to a Willis Towers Watson survey. That projected ... Read more »

DNB: Record high oil prices are good news for the Norwegian krone

The oil price is higher than it has been for over seven years, which is good news for the Norwegian krone. On Tuesday, the price of a barrel of North ... Read more »

UK launches crackdown on 'misleading' cryptocurrency ads

The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF are starting to embrace its innovation, they are also calling for investors to exercise caution.Jakub ... Read more »

Goldman Sachs is set to report fourth-quarter earnings —here's what the Street expects

David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, April 29, 2019Mike Blake | Reuters Goldman Sachs is ... Read more »

China's digital yuan notches $8.3 billion in transactions in 6 months, taking a tiny share of payments

A sign for China's digital currency, the electronic Chinese yuan (e-CNY) is displayed at a shopping mall in Shanghai on March 8, 2021.STR | AFP | Getty Images BEIJING — ... Read more »

(LEAD) S. Korea aims to minimize market impact of extra budget-related bond sale: official

(ATTN: UPDATES with bond market reaction in paras 5-8) SEOUL, Jan. 18 (Yonhap) — South Korea plans to sell similar amounts of state bonds over periods in a bid to ... Read more »

(LEAD) Hyundai Capital launches joint venture to provide auto finance in France

(ATTN: ADDS Hyundai, Kia sales figures in France at bottom) SEOUL, Jan. 18 (Yonhap) — Hyundai Capital Services Inc., South Korea’s leading auto finance company, said Tuesday it has launched ... Read more »

Top Stock Picks for Week of January 17, 2022

Ford Motor Company F designs, manufactures, markets and services cars, trucks, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles.Strong vehicle mix supported by F-series trucks and SUV models is ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic