Spoiler alert, if you haven’t been to the gas station in the past week, you may be in for a shock. The price of gas has risen about 28% since early July, spiking higher the past few weeks.
While I’m not personally pleased by this, it does open up more investing opportunities in stocks like Battalion Oil (BATL). This under $10 stock is set to outperform with West Texas Intermediate (WTI) right at $90 a barrel.
Battalion should not only benefit from rising oil prices, but the company has been on a focused mission this year to reduce cost. Earlier this year, BATL CEO Matt Steele said the company had reduced its corporate office workforce by 44%. Steele expects a combination of staff reductions and other cost saving measures to reduce total general and administrative costs by 40% in 2023.
The company currently trades at an astoundingly low 0.9x earnings, and 3.7x projected earnings. BATL currently trades at…
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