Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Unfortunately, the rise in crude oil prices in 2016 is too little too late for a number of oil & gas E&Ps. However, according to Roth Capital Partners analyst John White, there are still plenty of E&P buying opportunities out there.
“We don’t like writing about this any more than you like reading about it (except for certain attorneys and financial advisors), but the number of oil and gas producers filing for bankruptcy is on the rise,” White explains.
Related Link: How Do Rising Interest Rates Affect The Average American?
There have now been a total of 77 North American oil and gas producer bankruptcy filings since the beginning of 2015. Combined, these 77 bankruptcies have involved roughly $51.9 billion in cumulative secured and unsecured debt. Approximately half (35) of the total bankruptcies since the beginning of 2015 have taken place so far in 2016. This pace suggests that by year’s end, North American E&P bankruptcies will be up roughly 200 percent compared to last year.
Despite that bleak outlook for the space as a whole, Roth sees several buying opportunities.
The firm maintains Buy ratings on the following stocks:
Callon Petroleum Company (NYSE: CPE)
Evolution Petroleum Corp (NYSE: EPM)
Earthstone Energy Inc (NYSE: ESTE)
Halcon Resources Corp (NYSE: HK)
Lonestar Resources Ltd (OTCMKTS: LNREF)
Petroquest Energy Inc (NYSE: PQ)
Ring Energy Inc (NYSE: REI)
RSP Permian Inc (NYSE: RSPP)
Disclosure: the author holds no position in the stocks mentioned.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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