US crude oil hit its lowest point in the last six-and-a-half years on Friday, along with there being issues with an oversupply globally of the resource. Then it was an edge higher for the US crude oil. Investors don’t seem to want to blink for fear of missing the changes to oil stocks. Here are three oil stocks to watch: Comstock Resources Inc (NYSE:CRK), Rex Energy Corporation (NASDAQ:REXX), and Oasis Petrolium Inc. (NYSE:OAS).
If an investor looks for overvalued or undervalued companies, this method is greatly helped by knowing the P/B ratios or price-per-book ratios of these companies. The relations between share price and book value is always an important consideration. An investor can look at this metric to determine where growth is happening at a respectable price point.
The decline of oil’s global prices continues. On August 14, it hit a six-and-a-half-year low. Meanwhile, gas prices for automobile drivers in the US and Canada continue to rise. The reason for rising prices at the pump is the partial outage at BP’s Whiting refinery, an oil refinery that is based in Indiana.