Are These Oil Stocks Ready To Recover? BreitBurn Energy Partners L.P. (BBEP) and Laredo Petroleum Inc (LPI)
New York, NY – GDP INSIDER – 03/25/2015.
This article discusses two companies: BreitBurn Energy Partners L.P. (NASDAQ:BBEP) and Laredo Petroleum Inc (NYSE:LPI)
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) leveled out from its recent slow decline yesterday with the stock gaining 0.32% or $0.02 to close at $6.24 on very light trading of 1.580 million shares, compared to its three month average trading volume of 3.724 million shares. The U.S. focused oil and natural gas producer has been gradually declining in line with the continuing weakness of oil and other energy commodity prices, as many investors move out the sector until the situation improves. BreitBurn Energy Partners L.P. has tried to improve its liquidity by reducing its monthly distribution by 52% to $0.0833 per share earlier this year. Overall, the stock has not been performing that badly and until recently was outperforming the S&P 500, but recent losses have now pushed the share price down 10.85% YTD. Given the fiscal prudence BreitBurn Energy Partners L.P. should be a good medium to long term investment once oil begins to recover.
Laredo Petroleum Inc (NYSE:LPI) bounced back slightly yesterday with the stock posting a gain of 2.56% or $0.30 to close at $12.00 on not very active trading of 3.817 million shares, compared to its three month average trading volume of 5.760 million shares. The independent developer of oil and natural gas’s share price has been declining since the beginning of the month with the stock down 5.66%. However, Laredo Petroleum Inc has been performing far better than most of its competitors so far this year with the stock up 15.93% YTD, even outperforming the S&P 500 which is only up 1.58% over the same period. With only a few exceptions, most companies in the oil and gas sector have seen their share price increase this year and with converging MACD and RSI of 52.72, Laredo Petroleum Inc is one of the few oil related stocks that may be worth investing in, making it a hold for now.
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