The recent energy sell-off has provided an opportunity to add these shares at a discount.
Warren Resources (WRES)
from Top Stocks Under $10
Warren Resources (WRES) is one of our favorite plays in the energy sector, and has been one of our strongest performers in terms of stock returns. We have been able to lock in profits in this name a couple of times—good, yes, but it left us underexposed to a stock we think still has higher to go. However, the blind selloff we saw last week in energy taking down all related stocks has given us an opportunity to get more shares in this name on weakness.
We like WRES because of its proven, repeatable performance. Moreover, it recently acquired Marcellus Shale assets, which include some of the top performing wells in that shale region adding a 200% increase in net production of natural gas. These new assets will complement the company’s strong performance in the California Oil and Wyoming natural gas assets – allowing for more production and profit upside.
Weiss Ratings Team, published by Money and Markets, a Division of Weiss Research, Inc., Top Stocks Under $10, www.moneyandmarkets.com/services/trading-services/top-stocks-under-10, issues@e.moneyandmarkets.com; 1-800-291-8545, August 4, 2014