Does Oil's Pullback Mean the Energy Sector Is Now Undervalued? etftrends.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etftrends.com Daily Mail and Mail on Sunday newspapers.
After a big run for energy stock this year, a slide in oil prices following news that OPEC agreed to boost production has helped take the steam out of the sector s rally.
Despite the pullback, most energy names are still trading either in overvalued territory or at prices that are in line with Morningstar s estimates of fair value, meaning that prospects for additional long-term gains could be hard to come by.
But we screened the energy sector in search of any stocks that may have fallen back to levels that Morningstar analysts peg as cheap. We found four: Pioneer Natural Resources (PXD), Plains All American Pipeline (PAA), Eni (E), and Holly Frontier (HFC).
Q2 Top Stock Performers on Morningstar's Coverage List morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Find the latest Devon Energy Corporation (DVN) stock forecast based on top analyst's estimates, plus more investing and trading data from Yahoo Finance