If you’ve paid attention to any headlines lately, then you know crude oil touched $70 per barrel on Sunday for the first time in almost three years, and that the Federal Reserve said it would keep interest rates ultra-low…
Which has historically been positive for basic materials, industrials and, most of all, these hot energy stocks to target right now.
The world is starting to shrug off the COVID-19 pandemic, so next year’s gross domestic product (GDP) is targeted around 4.4%. That tells us our economy is picking back up, and the Energy sector tends to move in step with expanding economic growth.
And the Energy Select Sector SPDR Fund (NYSEArca: XLE), which tracks the Energy sector, is currently the strongest on a one-, three- and six-month basis.
So it implies that the sector is only going to heat up again before cooling off again.
But also keep in mind that commodity trends can last several years because they’re not based on quarterly profits. Instead, they’re based on economic change, which can last several years at a time.
And we can anticipate even more upside from these hot energy stocks to target…
2 Hot Energy Stocks to Target for a Summer of Gains
Equinor ASA (NYSE: EQNR) is the first ticker I want us to take a look at…
Equinor develops oil, gas, wind and solar energy in more than 30 countries worldwide. EQNR’s biggest goal is to become the world’s most carbon-efficient oil, gas and offshore wind producer.
And offshore exploration is what’s heating up right now…
Between 2019 and 2026, this hot energy stock to target expects annual production growth to come in at 3% — for a six-year period, that’s good, folks!
EQNR’s assets have an average breakeven oil price of $35 per barrel, and as I just told you above, oil is hovering between $65 and $70.
I have a price target of $28 per share on the stock over the next 10 weeks if upside continues in the Energy sector.
But that’s just the first hot energy stock to target on my list. Check out my short video below to get the next ticker that’s even more likely to outperform the broader market. It’s a micro-cap stock, which means you’ll want to get your note-taking pen out and listen up.
Don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. What if I said we’d never have to stare at stock charts ever again…
And that it’s possible to place a simple trade on Tuesday morning, walk away and then come back on Friday to cash out?
So instead of refreshing news headlines or stressing all weekend about how the markets will open on Monday, we’re off for a quick three-day vacation!
Don’t believe me?
Well, thanks to a former institutional veteran breaking his silence on Wall Street’s undercover patterns, this brand-new “Tuesday trick” gives traders the chance to set themselves up for stress-free, long weekends.
