5 Best Oil Stocks to Buy According to Analysts

This article presents an overview of 5 Best Oil Stocks to Buy According to Analysts. For a detailed overview of such stocks read our article, 15 Best Oil Stocks to Buy According to Analysts.

5. Pedevco Corp (NYSE:PED)

Average Analyst Price Target: $2.2

Upside Potential: 120%

Texas-based oil and gas drilling company Pedevco Corp’s (NYSE:PED) one-year average price estimate set by Wall Street analysts is $2.20, while its price as of May 9 was $1.

4. Imperial Petroleum Inc (NASDAQ:IMPP)

Average Analyst Price Target: $8

Upside Potential: 120.9944751%

Petroleum transportation company Imperial Petroleum Inc (NASDAQ:IMPP) ranks fourth in our list of the best oil stocks to buy according to Wall Street analysts. So far this year the stock has gained about 32%.

3. TOP SHIPS Inc (NYSE:TOPS)

Average Analyst Price Target: $29

Upside Potential: 135.3896104%

Oil tanker company TOP SHIPS Inc (NYSE:TOPS) shares jumped in December after TOP SHIPS Inc (NYSE:TOPS) announced a $4 million share buyback program. Over the past one year the stock has gained about 43%. It closed at $12.32 on May 9. Wall Street analysts have set an average price estimate of $29 for the stock.

2. Independence Contract Drilling Inc (NYSE:ICD)

Average Analyst Price Target: $4.5

Upside Potential: 171.0843373%

Texas-based Independence Contract Drilling Inc (NYSE:ICD) is another penny stock in our list of the best oil stocks to buy according to analysts. The stock has an upside potential of 171% based on Wall Street analyst price target. Earlier this month Independence Contract Drilling Inc (NYSE:ICD) posted strong Q1 results. Its adjusted EPS in the period came in at -$0.50, beating estimates by $0.23. Revenue totaled $46.6 million, surpassing estimates by $4.96 million.

1. W&T Offshore, Inc. (NYSE:WTI)

Average Analyst Price Target: $8.9

Upside Potential: 281.9742489%

Wall Street analysts expect oil and gas company W&T Offshore, Inc. (NYSE:WTI) shares to reach about $9 over the next 12 months, while the stock’s current price is $2.33. Of the 933 hedge funds tracked by Insider Monkey, 17 hedge funds had stakes in W&T Offshore, Inc. (NYSE:WTI).

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