2 Beaten-Down Energy Stocks to Buy on the Dip (and 1 to Avoid Like the Plague)
Last year was a challenging one for the energy sector. Lower oil and gas prices, along with higher interest rates, weighed on the sector. Energy stocks in the S 500 index lost about 4% on the year, compared to a 24% gain for the broader market index.
That sell-off has many energy stocks looking like relatively attractive buying opportunities. However, not all are worth buying after last year's downdraft. Chevron (NYSE: CVX) and NextEra Energy (NYSE: NEE) are two that look like great ones to buy on the dip. However, (NYSEMKT: TELL) is one energy stock that investors should avoid like the plague, even though its share price is a lot lower these days.
Tellurian had a rough 2023. Shares of the liquefied natural gas (LNG) export facility developer plunged 55%. The main factor weighing on the stock was concerns about how it would finance its massive Driftwood LNG export facility and related Driftwood Pipeline Project.
Source Fool.com
