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Oil stocks to buy ahead of next OPEC meeting

Imperial Oil

Imperial Oil (IMO) is a Canadian based oil and gas explorer. The stock has moved higher over the last month, and the stage is set for additional appreciation through the remainder of the year. Even with the recent gains, the stock’s valuation remains attractive, with a P/E of just 12.7. Analysts forecast earnings growth of 116% for the current year, and see profits rising an additional 35.5% next year. The stock remains well below where it was trading at the end of last year, and as long as oil prices hold their recent gains or move higher there is the potential for the stock to trend higher through the remainder of the year.

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Chart courtesy of www.stockcharts.com

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Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.