The time is now to invest in energy, at least according to self-made billionaire energy traders Boone Pickens and Andy Hall.
In a recent article by Forbes, the two traders are noted to be calling for a return to much higher prices within the oil sector sooner rather than later. If they are right about the direction oil will take, there will be money to be made in energy stocks.
The following three stocks are owned by at least one of the world’s greatest billionaire investors and has the potential to double, according to Forbes, if Pickens is right about oil at USD$70 by year-end.
Chesapeake Energy (CHK)
Billionaire investor Carl Icahn owns 11 percent of CHK and recently added to his position around USD$13. According to the site, Chesapeake has halted their dividend and said they are looking at selling assets. The last time oil was at USD$70, Chesapeake was USD$25, which would mean a 203 percent return from its price today if that were to happen again.
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SandRidge Energy (SD)
Billionaire investor Prem Watsa owns almost 11 percent of SandRidge, according to Forbes. When oil was USD$70, the stock traded above USD$4 last Novemner—788 percent higher than its current share price.
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Transocean Energy (RIG)
Billionaire Carl Icahn also owns almost 6 percent of Transocean. RIG recently reported better than expected earnings this month, and the last time oil was USD$70, Transocean was USD$24 or almost a 50 percent return from its current share price.
To see the complete list of energy stocks to invest in by Forbes, click here.