2 Energy Stocks That Are Bargains After Significant Sell-Offs
By Bret Jensen:Energy stocks have really taken a hit in the two month sell-off in the equity and the oil markets. Many stocks have been oversold and look like good bargains for long term investors. Two I like based on valuation are Marathon Petroleum (MPC) and Devon Energy (DVN). Marathon Petroleum Corporation – “Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, transporting, and marketing petroleum products primarily in the United States and internationally. It operates six refineries in the Gulf Coast and Midwest regions of the United States, which refines crude oil and other feedstocks; and distributes refined products through barges, terminals, and trucks.”. (Business Description from Yahoo Finance) 5 reasons to recommend MPC at $35 a share:
- The company recently split into two businesses. This should allow the downstream business (MPC) to focus better on its core competencies.
- It is selling near the bottom of its historical valuation based