As the world continues to rely on oil and gas as major sources of energy, investors seeking opportunities in the energy sector may consider oil and gas stocks as potential investments. Despite the increasing focus on renewable energy, the demand for oil and gas remains significant, making these stocks attractive for investors looking for potential growth and profitability.
Here are three “Strong Buy” oil/gas stocks from Wall Street –
Matador Resources Company – SYM: MTDR
Recent Price: $59.46
Price Target: $75.67
Firms with Buy Rating: J.P. Morgan, Truist Financial, Raymond James
Description: Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. Matador Resources Company was founded in 2003 and is headquartered in Dallas, Texas.
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Permian Resources Corporation – SYM: PR
Recent Price: $14.02
Price Target: $16.92
Firms with Buy Rating: Piper Sandler, Stifel Nicolaus, J.P. Morgan
Description: Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company’s properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico. The company was formerly known as Centennial Resource Development, Inc. and changed its name to Permian Resources Corporation in September 2022. Permian Resources Corporation was incorporated in 2015 and is headquartered in Midland, Texas.
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EOG Resources, Inc. – SYM: EOG
Recent Price: $126.54
Price Target: $152.43
Firms with Buy Rating: Jefferies, UBS, Morgan Stanley
Description: EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
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