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 (NYSE:CRK), Tellurian (NYSE: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.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.