CNXM - 3 Stocks That Are Absurdly Cheap Right Now
The United States is producing an enormous amount of natural gas these days. According to the U.S. Energy Information Administration, the country's gas output is on track to surge 10% this year to an average of 91.6 billion cubic feet per day. That's above the country's demand, which is causing gas to pile up in storage, pushing down its price. That's forcing gas-focused drillers in places like the Marcellus shale to slow their growth plans until more LNG export facilities come on line.
The market's current challenges are weighing on the valuations of gas-focused midstream companies that operate in the Marcellus shale region. Because of that, they've become absurdly cheap value stocks that pay dividends with eye-popping yields.
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