4 Offshore Oil Stocks That Fell 10% Last Month: 2 Look Like Buys Now

Shares of Teekay Corporation (NYSE: TK), Teekay Tankers Ltd. (NYSE: TNK), Noble Corporation (NYSE: NE), and Ensco PLC (NYSE: ESV) finished last month down between 8.6% and 9.7% from where they started. Furthermore, they were all down between 9.6% and 13.5% from their peaks in October. In other words, if you bought shares of any of these stocks near their highs in October, you've probably lost money so far.

So what gives? The interesting thing is that there really wasn't any material news about any of these four companies reported in October.

All four of these companies are heavily tied to oil markets. Teekay and its master limited partnership Teekay Tankers operate vessels that transport and store oil and natural gas and related products, while Noble Corp. and Ensco provide offshore drilling services to oil producers.

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Source: Fool.com