Actionable news
All posts from Actionable news
Actionable news in COP: CONOCOPHILLIPS,

9 E&Ps Bernstein Is Buying Before The Second Half Of 2016

United States Oil Fund ETF ETF:USO, SPDR S&P Oil & Gas Exploration & Production ETF ETF:XOP - 9 E&Ps Bernstein Is Buying Before The Second Half Of 2016

The global oil market may be rebalanced well before many investors expect. According to Bernstein analyst Bob Brackett, oil-levered E&Ps will be some of the major beneficiaries once the oil market reaches equilibrium in the second half of this year.

“We believe that robust demand growth and falling non-OPEC supply will bring the oil market into balance in 2H2016,” Brackett explained.

Related Link: Why Natural Gas Investors And Renewable Energy Investors Are Hoping For The Same Thing

Bernstein maintains Outperform ratings on the following oil stocks:

GMP analyst Bob Bakanauskas went long E&Ps back on February 3. He predicts that the oil market will transition from oversupply to undersupply in 2017. From that point forward, the world will once again require shale production growth.

“Our preference is for quality assets with low full-cycle development cost providing a competitive advantage,” Bakanauskas said.

Since Bakanauska’s call, the SPDR S&P Oil & Gas Explore & Prod. (ETF) XOP 1.64% is up 23.6 percent.

Disclosure: The author holds no position in the stocks mentioned.

© 2016 Benzinga does not provide investment advice. All rights reserved.